In all, mortgage rates remained relatively stable again today. One notable exception is the rate for a jumbo mortgage -- a loan amount above the "conforming limit" set by the Federal Home Loan Mortgage Corporation (Freddie Mac) and Federal National Mortgage Associate (Fannie Mae), which is generally a loan of $417,000 or more -- which dropped 0.25% overnight.

The number of affordable homes for sale is declining, which resulted in a 7.7% jump in home prices last month compared to a year prior. Based on the lower jumbo rates, it seems lenders realize that to help the average home buyer overcome the higher prices, they need to reduce the larger loan prices.

As for the remaining loan types, most were little changed, if at all.

Here are 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

4.52%

4.46%

30-year fixed

4.02%

3.97%

15-year fixed

3.18%

3.16%

30-year fixed refinance

4.02%

3.99%

15-year fixed refinance

3.20%

3.24%

5/1 ARM

3.19%

3.15%

5/1 ARM refinance

3.30%

3.26%

Data source: Bloomberg. Rates are national averages and may include points.

As attractive as today's mortgage rates are, they look even better compared to what home buyers were facing just 10 years ago. For some perspective, here are a few of the rates from 2007.

Mortgage Type

Mortgage Rates (National Average) March, 2007

30 year fixed

6.16%

15 year fixed

5.88%

1 year ARM

5.45%

5/1 Year ARM

5.90%

Data source: Freddie Mac. Rates do not include points.

For current homeowners shopping for a home equity line of credit (HELOC) or equity loan, both rates remained stable, as they have for much of the past week. Today's HELOC and equity loan rates are 5.10% and 5.21%, respectively. Both rates remain below last month's rate of 5.26% each.

 

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