Recs

0

Mortgage Rates Decline Again Today

After yesterday's relatively substantial jump in average mortgage rates across the U.S., including a 0.09% hike in 30-year fixed refinance loans, today's across-the-board declines were a welcome surprise. For existing homeowners pondering an equity loan, there's little change on that front.

Not only did mortgage rates drop today, virtually all loan types eased more than yesterday's spike led by a 0.11% decline in 30-year fixed rates. It appears Tuesday's uptick was more of a hiccup than a precursor of what's to come.

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

4.44%

4.69%

30-year fixed

3.91%

4.16%

15-year fixed

3.11%

3.30%

30-year fixed refinance

3.91%

4.17%

15-year fixed refinance

3.13%

3.34%

5/1 ARM

3.14%

3.36%

5/1 ARM refinance

3.32%

3.51%

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

As attractive as today's mortgage rates are, just a year ago home shoppers were enjoying even less expensive loans. For some perspective, here are a few of the rates as of April 2016.

Mortgage Type

Mortgage Rates March, 2012

30-year fixed

3.61%

15-year fixed

2.87%

5/1-year ARM

2.83%

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

If you're in the market for a home equity line of credit (HELOC) or equity loan, the only change was a 0.01% bump in HELOC rates and a 0.01% decline in equity loans. HELOC and equity loan rates were relatively steady at 5.24% and 5.30%, 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: 4013847, ~/Articles/ArticleHandler.aspx, 4/29/2017 1:24:21 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
VISIBLE INTERNALLY ONLY AND ONLY WORKS WITH UNREGISTERED VISITORS

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 = 59637978253293753389094289318278