Average mortgage rates inched up Thursday, with most loan varieties climbing just 1 or 2 basis points (a basis point equals 1/100 of a percent). The news was better for people shopping for a jumbo fixed rate alternative. (A "jumbo" loan is generally required if home buyers need to borrow more than $417,000.) The rate on those larger loans dropped another 4 basis points, which tacks onto the previous two days of drops for a combined 28 decline.

Would-be home buyers in the market for a 5/1 adjustable rate mortgage (ARM) weren't as fortunate, given today's 5 basis point increase in rates. The 15-year fixed loan also rose, albeit a slightly more modest 4 basis points. In all, mortgage costs generally remain in line with last month's levels.

Here are all of today's average mortgage rates across the U.S., along with where they stood a month ago .

Mortgage Type

Mortgage Rates Today

Mortgage Rates 1 Month Ago

30-year fixed jumbo

4.28%

4.41%

30-year fixed

3.88%

3.87%

15-year fixed

3.09%

3.07%

30-year fixed refinance

3.86%

3.87%

15-year fixed refinance

3.09%

3.07%

5/1 ARM

3.23%

3.10%

5/1 ARM refinance

3.32%

3.26%

Data source: Bloomberg. National average rates which may include points.

Current mortgage rates aren't too far removed from what home buyers enjoyed a few years ago. For some perspective, here are the average  mortgage rates from May 2014.

Mortgage Type

Mortgage Rates May 2014

30-year fixed

4.19%

15-year fixed

3.29%

1-year ARM

2.43%

5/1 ARM

3.01%

Data source: Federal Home Loan Mortgage Corporation (Freddie Mac). Rates do not include points.

If you're a current homeowner researching a home equity line of credit (HELOC) or equity loan, the strong housing market continues to work in your favor. Both HELOC and equity loans held steady at 5.30% and 5.27%, respectively. A month ago HELOCs were 5.30% and equity loans 5.28%.


 

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