Mortgage Rates Remain at Historically Low Levels

What little change there was in mortgage rates today was for the better, led by a drop of 3 basis points -- a basis point equals 1/100 of a percent -- in the 30-year fixed rate, to 3.81%. Adjustable-rate loans eased as well after inching up earlier in the week.

The 5/1 adjustable-rate mortgage (ARM) and 5/1 ARM refinance rates dropped 1 and 4 basis points, respectively. The 5/1 ARM offers a fixed rate for five years, then adjusts 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



30-year fixed



15-year fixed



30-year fixed refinance



15-year fixed refinance



5/1 ARM



5/1 ARM refinance



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

Today's homebuyers are enjoying some of the lowest loan rates in history, despite the recent 0.25% bump in the Federal Reserve's benchmark rate. Securing a mortgage used to be a much more expensive proposition. How expensive? For some perspective, here are a few of the rates as of April 1997.

Mortgage Type

Mortgage Rates, April 1997

30-year fixed


15-year fixed


1-year ARM


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

For existing homeowners exploring a home equity line of credit (HELOC) or equity loan, there's no change in either rates today. Both HELOC and equity loans stayed at 5.30%. The equity loan alternatives remain above last month's 5.13% and 5.21%.


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