Little, if any, changed in mortgage rates today, though the number of homebuyers in search of a larger loan saw a slight uptick. The 30-year fixed jumbo loan creeped up 2 basis points (a basis point equals 1/100 of a percent), erasing most of yesterday's 3-basis-point decline. The jumbo loan minimum is $417,000, though that can fluctuate upward depending on the local housing market.

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

4.42%

4.55%

30-year fixed

3.89%

3.99%

15-year fixed

3.09%

3.18%

30-year fixed refinance

3.90%

4.00%

15-year fixed refinance

3.07%

3.20%

5/1 ARM

3.17%

3.17%

5/1 ARM refinance

3.28%

3.27%

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

As attractive as rates are today, they look even better compared to the relatively costly loans consumers were faced with 10 years ago. For some perspective, here are the average mortgage rates from May 2007.

Mortgage Type

Mortgage Rates, May 2007

30-year fixed

6.26%

15-year fixed

5.97%

1-year ARM

5.52%

5/1 ARM

5.98%

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

For homeowners considering a home equity loan or line of credit, there is no change today in home equity lines of credit (HELOC), which remained at 5.33%. Equity loan rates rose a mere basis point and now sit at 5.28%. Both rates remain above last month's 5.19% and 5.29%.


 
 

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