Fixed rate mortgages continued their downward movement during this holiday-shortened week, as the average rate on the standard 30-year fixed mortgage fell to 3.55%, down from last week’s 3.59%, according to Virginia-based mortgage-finance company, Freddie Mac. Regarding the 15-year fixed rate loan, the national average rate this week remained unchanged at 2.86%. The current low mortgage rates may give more incentives to both home buyers and refinancers to take out new debts.

In other news, mortgage rates are higher this morning in a response to the European Central Bank’s (ECB) announcement, the ADP employment report and the weekly initial jobless claims data.

Today, the ECB announced its bond-buying program in order to support the euro currency and those countries in the Eurozone, that are facing debt issues.

As for the ADP employment report, according to the latest figures, private companies added 201,000 jobs in August, following July’s revised 173,000, a better-than-expected data, which might indicate that the U.S. job market is back on track. Previously, economists surveyed by Bloomberg had expected an increase of 140,000.

The number of Americans, who filed applications for unemployment benefits last week fell by 12,000 to 365,000 marking the lowest level in a month, the Labor Department said earlier today. The consensus expectation was for a reading of 370,000.

Coming back to current mortgage rates, Chase (NYSE:JPM) is offering the benchmark 30-year fixed refinance mortgage at a rate of 3.875% which features an annual percentage rate (APR) of 3.947%. In case of the 15-year FRM, which is a popular choice among home refinancers, the asking rate is 3.000% and an APR sum of 3.143%.

Those would-be borrowers, who are considering to take on the 5/1 ARM and able to meet lender requirements, can get this type of loan locked in at a rate of 2.625% with an APR amounting to 3.075%. Now, the 5/1 adjustable rate loan looks decent as well, as it carries 2.500% in interest and it’s accompanied by an APR variable of 3.076%.

Those who prefer to refinance their existing loans with the assistance of TD Bank (NYSE:TD), will see the 30-year FRM clearing out balances at a rate of 3.750% plus an APR figure of 3.800%. The shorter, 15-year fixed package, on the other hand, is coming out at 2.875% and carries an APR sum of 2.963%.

Now, switching to more flexible loans, TD Bank advertises the 7/1 adjustable rate mortgage at a rate of 2.750% with an APR yielding to 3.069%. As for the 5/1 ARM, currently it opens at 2.625% and has a competitive APR in the form of 3.083% as of Thursday.

Mortgage loan offers at San Francisco-based top lender, Wells Fargo (NYSE:WFC) may be appealing to many potential borrowers, as they can find some incredibly low rates being attached to a range of refinance deals. In case of fixed rate mortgages, the 30-year FRM is available at a rate of 3.750% and bears an APR variable of 3.925%. Wells Fargo’s 15-year fixed mortgage may pique some interest as well, as it demands only 3.000% in interest and comes with an APR of 3.308%.

The 5-year adjustable rate loan remained steady and it can be taken out at a rate of 2.250% plus an APR sum of 3.072%.