Today’s Mortgage and Refinance Rate: July 4, 2021


Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

How mortgage rates have changed

Mortgage rate trends

Money.com conventional rates; RedVentures government guaranteed rates.

Over the past week, both fixed and government guaranteed loan rates have fallen. Average rates for a 30-year fixed mortgage remain well below 3.5%, and rates for 15-year fixed loans as well as FHA and VA loans have all remained below 3%. Variable rate mortgage rates have remained fairly stable for an ARM 7/1, but have increased significantly for an ARM 10/1.

Trends in refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Average rates for a refinance loan are generally higher than rates for a new mortgage loan, but the trends are the same: 15-year fixed rates are the lowest rates available for a conventional loan, while ARM 10/1 rates are the highest. Rates on fixed rate loans and government guaranteed loans have fallen since last week, but ARM loan rates have remained stable or increased.

Mortgage rate forecast in 2021

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

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

However, unemployment and inflation need to grow steadily and over the long term for mortgage rates to rise. If both continue to improve over the next few months, we might see higher rates.


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