The good news just keeps coming on mortgage rates. Many expected a slow but steady increase in mortgage rates following the Federal Reserve's 0.25% bump in its overnight rate last week, not to mention the ensuing increase in prime rates -- the interest lenders charge their most creditworthy customers -- many banks instituted as a result. However, fixed rates declined across the board again today, and even adjustable-rate mortgages (ARMs) remained stable.

For today's home shoppers, here are the current average mortgage rates across the U.S., along with where they stood last month.

Mortgage Rates (National Average)

 

Today

1 month ago

30-year fixed jumbo

4.63%

4.26%

30-year fixed

4.07%

4.01%

15-year fixed

3.24%

3.14%

30-year fixed refi

4.08%

4.05%

15-year fixed refi

3.24%

3.16%

5/1 ARM

3.28%

3.16%

5/1 ARM refi

3.38%

3.27%

Data source: Bloomberg. Rates may include points.

Rates aren't quite as attractive as they were a while back, but relatively speaking it's still a good time to shop for a mortgage. For some perspective, here are a few of the rates home  shoppers were faced with 10 years ago.

Mortgage Rates (National Average)

 

March, 2007

30-year fixed

6.16%

15-year fixed

5.88%

1-year ARM

5.45%

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

For those of you who already own a home and are considering a home equity line of credit (HELOC) or equity loan, there was little change today. The strong housing market has kept average HELOC and equity loan rates fairly stable at 5.10% and 5.22%, respectively. Both HELOC and equity loan rates remain below last month's respective rate of 5.26% each.

 

The Motley Fool has a disclosure policy.