Today’s mortgage and refinancing rates: Aug 25, 2021

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Today’s mortgage rates

Mortgage type Average rating today
15 year fixed 2.41%
30 year fixed 3.30%
7/1 ARM 4.88%
10/1 ARM 4.59%
FHA 30 2.79%
VA mortgage 2.70%

Regular bets from Money.com; government-backed rates of RedVentures.

Today’s refinancing rates

Mortgage type Average rating today
15 year fixed 2.52%
30 year fixed 3.47%
7/1 ARM 4.93%
10/1 ARM 4.66%
FHA 30 2.77%
VA mortgage 2.70%

Regular bets from Money.com; government-backed rates of RedVentures.

Mortgage interest rate forecast

Mortgage rates are low across the board, and rates tend to be low when the economy is in trouble. In the spring of 2020, mortgage rates fell in response to the COVID-19 pandemic.

In the past few months, the US has been gradually recovering from the pandemic, with businesses reopening. the number of jobs is growing, and inflation increases. However, the delta variant of the coronavirus has hit the country, so can America survive a similar economic situation as it did in 2020, and could mortgage rates fall even lower?

Probably no.

Many cities and businesses find ways to proceed with cautionfor example, mandatory masks or vaccination incentives. There was also no indication that the unemployment rate would rise again. It may be too early to tell whether the economy will steadily improve enough to raise mortgage rates anytime soon, but don’t expect mortgage rates to get much lower in response to the Delta option.

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