The average 30-year fixed-mortgage rate is 4.42 percent, a decrease of 5 basis points since the same time last week.

Multiple closely watched mortgage rates ticked downward this week. The average rates on 30-year fixed and 15-year fixed mortgages both were down. The average rate on 5/1 adjustable-rate mortgages, meanwhile, has notched higher.

Mortgage rates are constantly changing, but they remain much lower overall than they were before the Great Recession. If you’re in the market for a mortgage, it may make sense to lock if you see a rate you like. Make sure you shop around first.

The average 30-year fixed-mortgage rate is 4.42 percent, a decrease of 5 basis points since the same time last week. A month ago, the average rate on a 30-year fixed mortgage was lower, at 4.30 percent.

At the current average rate, you’ll pay $501.94 per month in principal and interest for every $100,000 you borrow. That’s down $2.96 from what it would have been last week.

The average 15-year fixed-mortgage rate is 3.86 percent, down 2 basis points over the last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost around $733 per $100,000 borrowed.

The bigger payment may be a little more difficult to find room for in your monthly budget than a 30-year mortgage payment would, but it comes with some big advantages: You’ll come out several thousand dollars ahead over the life of the loan in total interest paid and build equity much faster.

The average rate on a 5/1 ARM is 4.40 percent, ticking up 13 basis points since the same time last week.

These types of loans are best for those who expect to sell or refinance before the first or second adjustment. Rates could be substantially higher when the loan first adjusts, and thereafter.

Monthly payments on a 5/1 ARM at 4.40 percent would cost about $501 for each $100,000 borrowed over the initial five years, but could ratchet higher by hundreds of dollars afterward, depending on the loan’s terms.

Michael Becker, a branch manager at Sierra Pacific Mortgage, believes rates will go up.

He said, “While I expected an increase in mortgage rates over the last week, I was surprised at the abruptness of the move higher. Mortgage rates and the 10-year Treasury yield are up about 0.25 percent in a little over a week. That is a pretty big move in a short time.

“The move higher in rates is even more concerning considering the sell-off in equity markets. It seems markets are focused on the potential for inflation, a big increase in Treasury issuance due to the Trump tax cut, and receding support for lower rates from the Fed and other central banks around the world.

“I think it’s going to take some type of shock, like reignited concerns about trade wars or a continued equity sell-off that accelerates for rates to drop in the future. With nothing like that on the immediate horizon, I think mortgage rates will continue their march higher.”

Derek Egeberg, a certified mortgage planning specialist and branch manager at Academy Mortgage also believes rates will trend up.

“With the slide higher this week, rates have continued the steady decline in price translating into higher rates to the consumer. As consumers are used to gas prices rising in the summer, look for higher mortgage rates this summer as well,” he said.

Dick Lepre, a senior loan officer with RPM Mortgage, see rates remaining flat. He said, “This is one of those weeks where ‘flat’ really means ‘clueless.’ The daily tech is still bearish (lower prices, higher yields), and the weekly is doing a head fake offering no clue as to direction. Both the equity and bond markets display only uncertainty. Good luck out there.”