Mortgage Rates

At this time’s Mortgage and Refinance Charges: August 31, 2021

at-this-times-mortgage-and-refinance-charges-august-31-2021

Current mortgage rates

Mortgage type Average price today
Fixed for 15 years 2.42%
30 years 3.28%
7/1 ARM 4.11%
10/1 ARM 3.46%
30 years of FHA 2.65%
VA mortgage loan 2.71%

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

Current refinancing rates

Mortgage type Average price today
Fixed for 15 years 2.53%
30 years 3.45%
7/1 ARM 4.46%
10/1 ARM 3.87%
30 years of FHA 2.66%
VA mortgage loan 2.73%

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

How mortgage rates have changed

Mortgage rate trends

Mortgage type Average price today Average price last week
Fixed for 15 years 2.42% 2.41%
30 years 3.28% 3.30%
7/1 ARM 4.11% 4.88%
10/1 ARM 3.46% 4.59%
30 years of FHA 2.65% 2.79%
VA mortgage loan 2.71% 2.70%

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

Refinancing rate trends

Mortgage type Average price today Average price last week
Fixed for 15 years 2.53% 2.52%
30 years 3.45% 3.47%
7/1 ARM 4.46% 4.93%
10/1 ARM 3.87% 4.66%
30 years of FHA 2.66% 2.77%
VA mortgage loan 2.73% 2.70%

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 can see rates rise later in the year.

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

However, unemployment and inflation need 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.

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