Today, mortgage and refinance rates remain steady compared to recent weeks, with rates for 30-year fixed mortgages staying below 3.5%, and rates for adjustable-rate refinances creeping back up above 4% after a dip this summer.
Mortgage rates should stay low for a few more months, but you may see rates start rising later in 2022.
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, it could be a sign that rates will go up in a few months.
Current mortgage rates
| Mortgage type | Average rate today |
| 15-year fixed | 2.38% |
| 30-year fixed | 3.25% |
| 7/1 ARM | 4.16% |
| 10/1 ARM | 3.45% |
| 30-year FHA | 2.79% |
| VA mortgage loan | 2.69% |
Conventional rates from Money.com; government-backed rates from RedVentures.
Current refinance rates
| Mortgage type | Average rate today |
| 15-year fixed | 2.49% |
| 30-year fixed | 3.40% |
| 7/1 ARM | 4.50% |
| 10/1 ARM | 3.90% |
| 30-year FHA | 2.79% |
| VA mortgage loan | 2.70% |
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 | 2.38% | 2.38% |
| 30-year fixed | 3.25% | 3.27% |
| 7/1 ARM | 4.16% | 3.79% |
| 10/1 ARM | 3.45% | 4.23% |
| 30-year FHA | 2.79% | 2.82% |
| VA mortgage loan | 2.69% | 2.69% |
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 | 2.49% | 2.49% |
| 30-year fixed | 3.40% | 3.42% |
| 7/1 ARM | 4.50% | 4.45% |
| 10/1 ARM | 3.90% | 3.87% |
| 30-year FHA | 2.79% | 2.83% |
| VA mortgage loan | 2.70% | 2.71% |
Conventional rates from Money.com; government-backed rates from RedVentures.
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