Mortgage Rates: Updated May 4th

Mortgage rates remained steady the past week, no big changes in rates. Fixed rate mortgages are still at historic lows. 30-year conforming mortgage rates went up to 5.02% from 4.96%. 15-year conforming mortgage rates went up to 4.79% from 4.72%

Jumbo mortgage rates also went up this past week. 30-year Jumbo mortgage rates went from 4.96% to 5.02% and 15-year jumbo mortgage went up even more to 6.19% from 6.02%.



The annual percentage rate on a 5-year conforming adjustable rate mortgage is now at 4.17% down from 4.215% last past week. The annual percentage rate on1-year conforming adjustable mortgages stayed under 4%, the average 3.98 percent this week up from 3.92 percent last week.

Rates on a home equity line of credit is still under 5 percent, at 4.73%. The rate on a 10-year fixed rate home equity loan inched up to 7.69% and the rate on a 15-year fixed rate home equity loan is at  7.81%.

 

Description	Rate	APR
Home Equity Line of Credit	4.732%
Home Equity Loan - 10 Years	7.690%
Home Equity Loan - 15 Years	7.816%
15 Year Fixed Conforming	4.658%	4.795%
15 Year fixed Jumbo	6.075%	6.197%
30 Year Fixed Conforming	4.942%	5.022%
30 Year Fixed Jumbo	6.148%	6.216%
1 Year ARM Conforming	4.910%	3.873%
1 Year ARM Jumbo	5.857%	3.987%
3/1 Year ARM Conforming	4.887%	4.119%
3/1 Year ARM Jumbo	5.550%	4.205%
5/1 Year ARM Conforming	4.603%	4.171%
5/1 Year ARM Jumbo	5.529%	4.428%
7/1 Year ARM Conforming	5.007%	4.400%
7/1 Year ARM Jumbo	6.382%	4.898%
10/1 Year ARM Conforming	5.298%	4.720%
10/1 Year ARM Jumbo	6.384%	5.257%
Interest Only: 3/1 Year ARM Conforming	5.036%	4.217%
Interest Only: 3/1 Year ARM Jumbo	5.653%	4.374%
Interest Only: 5/1 Year ARM Conforming	4.777%	4.286%
Interest Only: 5/1 Year ARM Jumbo	5.881%	4.596%
Interest Only: 7/1 Year ARM Conforming	5.254%	4.540%
Interest Only: 7/1 Year ARM Jumbo	6.652%	5.075%