Mortgage Rates

As we speak’s Mortgage and Refinance Charges: August 14, 2021

as-we-speaks-mortgage-and-refinance-charges-august-14-2021

After mortgage rates have fallen year after year and month after month, it seems that they have hit a plateau.

In the past few days – even weeks – prices have barely moved. Fixed rates on 30- and 15-year loans are still low, the average rates on government-backed loans have remained constant, and the rates on adjustable loans remain the most expensive option.

If you are currently thinking about buying a home, this is a good thing because, despite small fluctuations, overall interest rates remain at historic lows.

Current mortgage rates

Conventional Tariffs from Money.com; government-sponsored rates from RedVentures.

Current refinancing rates

Conventional Tariffs from Money.com; government-sponsored rates from RedVentures.

How mortgage rates have changed

Mortgage rate trends

Conventional Tariffs from Money.com; government-sponsored rates from RedVentures.

Refinancing rate trends

Conventional Tariffs from Money.com; government-sponsored rates from RedVentures.

The forecast for mortgage rates in 2021

Mortgage rates should stay low for a few more months, but you may find rates rise in late summer or fall.

Mortgage rates are highly dependent on employment and inflation in the United States. When employment and inflation improve, mortgage rates rise; if they get worse, mortgage rates go down.

However, unemployment and inflation must have long-term, steady growth in order for mortgage rates to rise. If both continue to improve over the next few months, we could see higher rates.

Laura Grace Tarpley, CEPF

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