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Today’s mortgage and refinance rates: September 4, 2021

Table of Contents: Masthead Sticky

Current mortgage rates

Mortgage type Average rate today
15-year fixed 2.36%
30-year fixed 3.26%
7/1 ARM 3.79%
10/1 ARM 4.32%
30-year FHA 2.61%
VA mortgage loan 2.66%

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

Current refinance rates

Mortgage type Average rate today
15-year fixed 2.48%
30-year fixed 3.41%
7/1 ARM 4.44%
10/1 ARM 3.90%
30-year FHA 2.62%
VA mortgage loan 2.69%

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

How mortgage rates have changed

Mortgage rate trends

Mortgage type Average rate today Average rate last week
15-year fixed 2.36% 2.42%
30-year fixed 3.26% 3.28%
7/1 ARM 3.79% 4.11%
10/1 ARM 4.32% 3.46%
30-year FHA 2.61% 2.65%
VA mortgage loan 2.66% 2.71%

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

Refinance rate trends

Mortgage type Average rate today Average rate last week
15-year fixed 2.48% 2.53%
30-year fixed 3.41% 3.45%
7/1 ARM 4.44% 4.46%
10/1 ARM 3.90% 3.87%
30-year FHA 2.62% 2.66%
VA mortgage loan 2.69% 2.73%

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

The forecast for mortgage rates in 2021

Mortgage rates should stay low for a few more weeks, but you may see rates start rising later in the year.

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.

The Federal Reserve meets on September 21 and 22. If it makes announcements about tapering assets in response to higher inflation, we may see mortgage rates go up.

Related Content Module: More Mortgage Coverage

Read the original article on Business Insider

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