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Today's Mortgage and Refinance Rates: July 4, 2021

 3 years ago
source link: https://www.businessinsider.com/personal-finance/mortgage-rates-today-july-4-2021-7
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Current mortgage rates

Mortgage typeAverage rate today15-year fixed2.48%30-year fixed3.41%7/1 ARM4.10%10/1 ARM4.26%30-year FHA2.79%VA mortgage loan2.73%

Conventional rates from Money.com; government-backed rates from RedVentures.

Current refinance rates

Mortgage typeAverage rate today15-year fixed2.67%30-year fixed3.86%7/1 ARM4.27%10/1 ARM4.61%30-year FHA2.82%VA mortgage loan2.77%

Conventional rates from Money.com; government-backed rates from RedVentures.

How mortgage rates have changed

Mortgage rate trends

Mortgage typeAverage rate todayAverage rate last week15-year fixed2.48%2.52%30-year fixed3.41%3.43%7/1 ARM4.10%4.09%10/1 ARM4.26%3.90%30-year FHA2.79%2.89%VA mortgage loan2.73%2.82%

Conventional rates from Money.com; government-backed rates from RedVentures.

Refinance rate trends

Mortgage typeAverage rate todayAverage rate last week15-year fixed2.67%2.72%30-year fixed3.86%3.85%7/1 ARM4.27%4.27%10/1 ARM4.61%4.10%30-year FHA2.82%2.92%VA mortgage loan2.77%2.82%

Conventional rates from Money.com; government-backed rates from RedVentures.

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 inflation improve, mortgage rates increase; when they get worse, mortgage rates decrease.

Unemployment and inflation need to have long-term, steady growth for mortgage rates to increase, though. If both continue to improve over the next couple of months, we could see higher rates.

Editor, Banking & Mortgages

Laura Grace Tarpley is an editor at Insider, responsible for banking and mortgage coverage on Personal Finance Insider. She covers mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips. She is also a Certified Educator in Personal... Read More

Best Mortgage Rates Today: Sunday July 4, 2021

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.


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