Mortgage rates continued this week's trend of inching up, led by a fairly substantial 0.05% jump in 30-year fixed jumbo rates. Most other loan varieties rose, on average, by a more modest 0.02% or 0.03%.
About the only good interest rate news for borrowers came from home equity lines of credit (HELOC) and home equity loans, which held steady at 5.30% and 5.28%, respectively.
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 |
4.46% |
4.54% |
|
30-year fixed |
3.90% |
4.02% |
|
15-year fixed |
3.10% |
3.19% |
|
30-year fixed refinance |
3.90% |
4.04% |
|
15-year fixed refinance |
3.10% |
3.24% |
|
5/1 ARM |
3.11% |
3.18% |
|
5/1 ARM refinance |
3.28% |
3.29% |
Data source: Bloomberg. National average rates which may include points.
For a little perspective, here are where rates sat as of last Friday. Not surprisingly, adjustable-rate mortgages (ARMs) have shown little movement. Since lenders are able to adjust those loans based on the prevailing rates after the initial five-year "fixed" period ends, they assume less interest-rate risk. A similar line of reasoning applies to the shorter-term 15-year fixed rate loan.
|
Mortgage Type |
Mortgage Rates Today |
Mortgage Rates 1 Month Ago |
|---|---|---|
|
30-year fixed jumbo |
4.39% |
4.63% |
|
30-year fixed |
3.84% |
4.07% |
|
15-year fixed |
3.04% |
3.24% |
|
30-year fixed refinance |
3.84% |
4.08% |
|
15-year fixed refinance |
3.08% |
3.24% |
|
5/1 ARM |
3.10% |
3.28% |
|
5/1 ARM refinance |
3.25% |
3.38% |
Data source: Bloomberg. National average rates which may include points.
Both the aforementioned HELOC and equity loan interest rates of 5.30% and 5.28%, respectively, remain above last month's respective rates of 5.10% and 5.23%.
