Mortgage-backed securities prices, which drive mortgage rates their opposite, posted gains Monday and Tuesday consecutively, pressuring mortgage rates to move downward again from already record low levels where they began the week.

30-year fixed mortgage rates, currently at 4% for well-qualified borrowers who pay 1 point origination, are very near 3.875%. 30-year fixed mortgage rates have never been below 4% before. 15-year fixed mortgage rates remain at 3.5% but could improve any hour as well.

FreeRateUpdate.com surveys over 2 dozen wholesale lenders' rate sheets for brokers daily to determine the most accurate mortgage rates available to highly qualified borrowers at a standard origination fee.

FHA loan rates continue to mirror conforming mortgage rates. Today's 30-year fixed DHA loan rate is also 4%; however, MI and other FHA closing fees make APR higher than that of a conforming mortgage at the same note rate and origination.

Jumbo mortgage rates are improved from last week and today's jumbo 30-year fixed loan rate is 4.875%, a record low.

Wells Fargo mortgage rates, as advertised on their website, are unchanged with 4.375% (4.559 APR) being their offering on a conventional 30-year fixed mortgage.

Mortgage refinance applications have been flat according to the MBA, who posts figures weekly, since spiking as rates slid into the low 4's.