After yesterday's relatively substantial jump in average mortgage rates across the U.S., including a 0.09% hike in 30-year fixed refinance loans, today's across-the-board declines were a welcome surprise. For existing homeowners pondering an equity loan, there's little change on that front.

Not only did mortgage rates drop today, virtually all loan types eased more than yesterday's spike led by a 0.11% decline in 30-year fixed rates. It appears Tuesday's uptick was more of a hiccup than a precursor of what's to come.

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

4.44%

4.69%

30-year fixed

3.91%

4.16%

15-year fixed

3.11%

3.30%

30-year fixed refinance

3.91%

4.17%

15-year fixed refinance

3.13%

3.34%

5/1 ARM

3.14%

3.36%

5/1 ARM refinance

3.32%

3.51%

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

As attractive as today's mortgage rates are, just a year ago home shoppers were enjoying even less expensive loans. For some perspective, here are a few of the rates as of April 2016.

Mortgage Type

Mortgage Rates March, 2012

30-year fixed

3.61%

15-year fixed

2.87%

5/1-year ARM

2.83%

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

If you're in the market for a home equity line of credit (HELOC) or equity loan, the only change was a 0.01% bump in HELOC rates and a 0.01% decline in equity loans. HELOC and equity loan rates were relatively steady at 5.24% and 5.30%, respectively. HELOC and home equity loan rates are slightly above March's respective rates of 5.20% and 5.22%.

 

The Motley Fool has a disclosure policy.