Today’s mortgage and refinancing rates: July 27, 2021

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Average mortgage rates have largely remained unchanged over the past week, which means that today’s mortgage rates – both last week and last month – are still at an all-time low. This pattern means that now is a good time for loans.

Current mortgage rates

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

Current refinancing rates

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

How mortgage rates have changed

Dynamics of mortgage rates

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

Mortgage rates have increased across the board over the past week, but not by much. In fact, rates have remained unchanged from week to week.

Refinancing rates dynamics

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

Changes in refinancing rates over the past week are slightly more noticeable than fluctuations in mortgage rates. Tariffs for fixed rate mortgage going down – 30 years more than 15 years – and the stakes for ARM go up, especially in the case of 10/1 ARM. Government-backed mortgage rates (FHA and VA) have grown over the past seven days.

Forecast of mortgage rates in 2021

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

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

However, to raise mortgage rates, unemployment and inflation must have long-term sustained growth. If both rates continue to improve over the next few months, we may see higher rates.

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