Mortgage rates ended the week fairly static, with only a couple of minor changes. The 15-year fixed loan inched up 2 basis points (a basis point equals 1/100 of a percent), while the 5/1 adjustable-rate mortgage (ARM) refinance rate declined 0.04%. The rate hikes earlier this week proved to be little more than a hiccup, rather than a precursor of things to come.

Most loan costs are pretty competitive compared to a month ago, which bodes well for the immediate future.

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

4.59%

4.38%

30-year fixed

3.84%

3.84%

15-year fixed

3.07%

3.03%

30-year fixed refinance

3.80%

3.83%

15-year fixed refinance

3.05%

3.03%

5/1 ARM

3.19%

3.16%

5/1 ARM refinance

3.26%

3.34%

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

Today's mortgage rates are awfully attractive, but can't compare to the loan costs homebuyers were enjoying just five years ago. For some perspective, here are the average mortgage rates from May 2012.

Mortgage Type

Mortgage Rates, May 2012

30-year fixed

3.80%

15-year fixed

3.03%

1-year ARM

2.74%

5/1 ARM

2.835

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

For existing homeowners researching a home equity line of credit (HELOC) or equity loan, the strong housing market continues to work wonders. HELOC rates eased another basis point on the heels of Thursday's decrease, and now sits at 5.27%. Equity loan rates stayed at 5.27% for yet another day. Both loans are below last month's rates, when both HELOCs and equity loans were at 5.30%.


 
 

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