Mortgage Rates Jumped Today, Though Equity Loans Held Firm

Uh oh. After easing much of last week, average mortgage rates across the U.S. jumped today, led by a 0.09% hike in 30-year fixed refinance loans. For existing homeowners pondering an equity loan, there's more of the same on that front.

Following the Federal Reserve's recent increase in its benchmark rate, along with the subsequent rise in many banks' prime rates (the rates banks charge their most creditworthy customers and often use to determine the rates on adjustable-rate mortgage), may finally be be causing a slow but sustained rise in mortgage rates, as many pundits predicted.

It's too early to tell whether today's hike is a precursor of things to come or simply a hiccup, but it will be interesting to see what happens with rates in the days and weeks ahead.

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.

Rates increased today but remain competitive compared to what home shoppers were faced with just a few years ago. For some perspective, here are a few of the rates as of April 2014:

Mortgage Type

Mortgage Rates March, 2012

30-year fixed


15-year fixed


1-year ARM


5/1-year ARM


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

Exploring a home equity line of credit (HELOC) or equity loan? As alluded to above, no news is good news on the equity loan front today. HELOC and equity loan rates held steady at 5.23% and 5.31%, respectively. HELOC and home equity loan rates are slightly above March's respective rates of 5.20% and 5.22%.

5 Simple Tips to Skyrocket Your Credit Score Over 800!
Increasing your credit score above 800 will put you in rare company. So rare that only 1 in 9 Americans can claim they're members of this elite club. But contrary to popular belief, racking up a high credit score is a lot easier than you may have imagined following 5 simple, disciplined strategies. You'll find a full rundown of each inside our FREE credit score guide. It's time to put your financial future first and secure a lifetime of savings by increasing your credit score. Simply click here to claim a copy 5 Simple Tips to Skyrocket Your Credit Score over 800.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 4012758, ~/Articles/ArticleHandler.aspx, 4/29/2017 1:28:23 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Article registration testing

Revisit this page

Clear article's cache and revisit this page

Or, visit the current page, forcing Test ID to article:interrupt:106919 and

Tookie Value = 81830826596912691359971537888094