Current mortgage rates
Conventional rates from Money.com; government-backed rates from RedVentures.
Current refinance rates
Conventional rates from Money.com; government-backed rates from RedVentures.
How mortgage rates have changed
Mortgage rate trends
Conventional rates from Money.com; government-backed rates from RedVentures.
Over the past week, average mortgage rates have fallen across the board. Average rates for a 30-year fixed mortgage, which had surpassed 3.5%, have dropped to 3.43%. Rates for government-backed FHA and VA loans, however, have stayed pretty steady for the past week — while average rates for an FHA loan have risen, the numbers are consistent with what we’ve seen in recent weeks and months.
Refinance rate trends
Conventional rates from Money.com; government-backed rates from RedVentures.
Average rates for a refinance loan usually tend to be higher than for a mortgage purchase loan, and this week is no exception. While they’ve dropped on the whole since last week, rates for both a 7/1 ARM and a 10/1 ARM exceed 4%, and rates for a 30-year fixed remain in the high 3% range.
The forecast for mortgage rates in 2021
Mortgage rates should stay low for a couple more months, but you may see rates start rising in late summer or fall.
Mortgage rates heavily rely on employment and inflation in the US. When employment numbers and…
