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Most Mortgage Rates Steady, ARMs Decline

By Tim Brugger - Updated Mar 31, 2017 at 11:18AM

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Mortgage rates remained strong today, with adjustable loans actually declining a bit.

More good news on the mortgage rate landscape today: There were little, if any, changes in rates except for adjustable-rate mortgages (ARMs). Somewhat surprisingly, ARM mortgage were even less expensive again today.

After the recent increase in the Federal Reserve's benchmark rate and subsequent move by many banks to bump their prime rate -- what they charge their most creditworthy customers -- pundits expected an increase in the ARMs rate. But so far, so good.

Bottom line: It's still a great time to be shopping for a home.

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



30-year fixed



15-year fixed



30-year fixed refinance



15-year fixed refinance



5/1 ARM



5/1 ARM refinance



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

Just how good are mortgage rates today? For some perspective, here are the rates home buyers were faced with 20 years ago:

Mortgage Type

Mortgage Rates (National Average) March, 1997

30-year fixed


15-year fixed


1-year ARM


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

For homeowners considering a home equity line of credit (HELOC) or equity loan, both rates were slightly down today. HELOC and equity loan rates are now 5.19% and 5.28%, respectively. HELOC rates are still below last month's 5.26%, though home equity loans are above February's 5.26%.


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