There was very little change in mortgage rates today, though most loans inched up a meager 1 basis point -- a basis point equals 1/100 of a percent -- except for the 5/1 adjustable-rate mortgage (ARM), which creeped up all of 2 basis points.

The 5/1 ARM offers borrowers a fixed rate for five years, then it will adjust based on the prevailing rates following the fixed period.

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

4.39%

4.83%

30-year fixed

3.85%

4.05%

15-year fixed

3.05%

3.23%

30-year fixed refinance

3.85%

4.07%

15-year fixed refinance

3.07%

3.24%

5/1 ARM

3.11%

3.26%

5/1 ARM refinance

3.27%

3.35%

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

Today's homebuyers are enjoying some of the lowest mortgage rates in history, despite the recent 0.25% bump in the Federal Reserve's benchmark rate. That said, folks in the market for a new home in April of last year could get even lower-cost loans. Here are the rates from a year ago.

Mortgage Type

Mortgage Rates, April 2016

30-year fixed

3.61%

15-year fixed

2.87%

5/1 ARM

2.83%

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

For existing homeowners in the market for a home equity line of credit (HELOC) or equity loan, there is little to report for either rates today. HELOC rates were virtually unchanged at 5.30%, while equity loan rates declined 1 basis point to 5.29%. Both equity loans are slightly above last month's 5.14% and 5.22%, respectively.


 
 
 

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