Today’s mortgage and refinancing rates: July 4, 2021

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Current mortgage rates

Mortgage type Average rating today
15 year fixed 2.48%
30 year fixed 3.41%
7/1 ARM 4.10%
10/1 ARM 4.26%
FHA 30 2.79%
VA mortgage 2.73%

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

Current refinancing rates

Mortgage type Average rating today
15 year fixed 2.67%
30 year fixed 3.86%
7/1 ARM 4.27%
10/1 ARM 4.61%
FHA 30 2.82%
VA mortgage 2.77%

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

How mortgage rates have changed

Dynamics of mortgage rates

Mortgage type Average rating today Average rate last week
15 year fixed 2.48% 2.52%
30 year fixed 3.41% 3.43%
7/1 ARM 4.10% 4.09%
10/1 ARM 4.26% 3.90%
FHA 30 2.79% 2.89%
VA mortgage 2.73% 2.82%

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

Refinancing rates dynamics

Mortgage type Average rating today Average rate last week
15 year fixed 2.67% 2.72%
30 year fixed 3.86% 3.85%
7/1 ARM 4.27% 4.27%
10/1 ARM 4.61% 4.10%
FHA 30 2.82% 2.92%
VA mortgage 2.77% 2.82%

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

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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