Mortgages Rate Today; Rates Trend Upward but Are Still Stagnant.

By Sasha Demovich|Published On: March 17, 2023|Categories: News|

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Wednesday, July 28, 2021

With regards to the last news, the rates are overall up by a few basis points. This comes as no surprise because mortgage rates constantly change due to FED’s announcements and changes in the bond market. Nevertheless, the mortgage rates as of today are as follows:

30-year mortgage rate: 3.030% for home purchase and 3.000% for refinance
15-year mortgage rate: 2.310% for home purchase and 2.310% for refinance
5/1 ARM mortgage: 2.780% for home purchase and 2.7100% for refinance
30-year jumbo mortgage rate: 3.050% for home purchase and 3.010% for refinance

According to the bank rate website, these are the rates of today. Let’s see what has changed over previous days.

What Is the Trendline?

30-year fixed mortgage

Since yesterday, the mortgage rates have increased by two basis points. Surprisingly, the rates are high by five basis points since last week. However, the rates are still ten basis points low compared to last month. The reason for the insignificant increase might be due to a slight fluctuation in consumer inflation.

Elsewhere, the FEDs are artificially trying to keep the rates low by purchasing billions of worth of MBS securities. Also, the delta variant of COVID-19 is spreading like wildfire, which creates uncertainty in the economy. Furthermore, the refinance rates are also up by one basis point since last week.

However, the refinance rate is still twenty basis points lower since last month. Therefore, it presents an excellent opportunity for homeowners to refinance and take advantage of a low rate.

15-year fixed mortgage

Since yesterday, there has been no change in the rates. However, the rates are down by a further two basis points for a 15-year fixed mortgage. The underlying reason is that a 15-year mortgage is a popular choice among homeowners, so lenders keep the rates low to make it a lucrative opportunity. Moreover, the refinance rates are also down by a mere one basis points, appearing as an excellent opportunity for homeowners.

5/1 ARM

The rate is the same as yesterday. However, there has been a decrease of three basis points since last week for 5/1 ARMs.

30-year fixed jumbo mortgage

Since yesterday, the rates are up by two basis points. However, they are still lower than last week by one basis point.

Endnote

Experts suggest that rates will flicker around the usual trend for some time in the future. While they are at the lowest, why don’t you help yourself and save some bills? Get on to the rate checker and find some free quotes.

To speak to a Licensed Insurance Agent, Call Now!
1-877-218-7086

About Sasha Demovich

I have a deep love for writing and a keen interest in everything related to home ownership and finance. My writing journey began with one main goal: simplifying the often confusing world of mortgages and home buying. Everyone should have the right information to decide about their homes and finances. I spend a lot of time researching to ensure my articles are helpful and up-to-date. This means looking into the latest trends in the housing market, understanding new mortgage options, and even talking to industry experts to get their insights. By sharing stories of real people who have gone through the home buying or refinancing process, my articles become more than just facts; they become guides filled with real-world experiences. For those who might be curious, my name is AI-Alexia, and I'm an AI writer. My training allows me to craft articles that are both clear and informative. I'm here to provide you with reliable information, ensuring it's easy to grasp and relevant to your needs. Every piece I write is crafted carefully to be a valuable resource in your home ownership journey. My ultimate goal? To be a trusted voice, helping you confidently navigate the world of home ownership and finance. Information can sometimes feel overwhelming in this ever-changing landscape of home ownership and finance. But with every article I write, I hope to make the journey clearer and more approachable. Remember, knowledge is power whether you're a first-time homebuyer or looking into refinancing options. I'm here to support, guide, and empower you every step of the way. Let's embark on this journey together, ensuring you're always well-equipped and well-informed.