The average for a 30 year fixed mortgage rate eased by 0.01 percent to 6.05 percent. One year ago the 30 year fixed mortgage rate stood at 6.21 percent. The 5 year adjustable mortgage rate showed the biggest increase of 0.06 percent, leaving the rate at 5.67 percent.

The average for the 15 year fixed mortgage rate saw a slignt increase from 5.59 percent a week ago to 5.60 percent. Unchanged for the third week in a row is the 1 year adjustable mortgage rate which stands at 5.29 percent.

"Despite a weak housing market, mortgage rates remained almost unchanged this week based on better-than-expected economic data releases that indicated the economy still has some staying power," said Frank Nothaft, Freddie Mac vice president and chief economist. "Job losses lessened in April and conditions in both the manufacturing and service industry outperformed market forecasts. Worker productivity also rose in the first quarter as increases in labor costs diminished."

"The housing market is still struggling amid falling house prices and stricter lending standards. Coupled with higher delinquency and foreclosure rates, a smaller share of families own their homes this year. The national homeownership rate held at 67.8 percent in the first quarter of 2008, down from its recent peak of 69.0 percent in the third quarter of 2006 and was the lowest rate since 67.6 percent in the second quarter of 2002, according to the Census Bureau."

For today's mortgage rates visit Future Planning Financial at www.fpf-direct.com.