Mortgage and Refinance Charges As we speak, March 2, 2021

Today's mortgage and refinance rates

Average mortgage rates have fallen slightly or were unchanged yesterday. Depending on your lender, this may have been the first drop in more than a week.

So far, the markets look non-binding until this morning. And it wouldn't be a surprise if Today's mortgage rates should stay the same or change little.

Find and lock a low rate (March 2, 2021)

Current mortgage and refinancing rates

Mortgage rates

Conventional set for 30 years

Conventional 15 years fixed

Conventional set for 20 years

Conventional 10 years fixed

Fixed FTA for 30 years

Fixed FTA for 15 years

5 years ARM FHA

30 years permanent VA

15 years fixed VA

5 years ARM VA

Prices are provided by our partner network and may not reflect the market. Your rate could be different. Click here for a personalized price offer. See our tariff assumptions here.

Find and lock a low rate (March 2, 2021)

COVID-19 Mortgage Updates: Mortgage lenders are changing interest rates and rules due to COVID-19. For the latest information on how coronavirus is affecting your home loan, click here.

Should You Lock A Mortgage Rate Today?

I would still lock my mortgage rate asap. Yesterday's fall (if you had one) was welcome. However, I am not yet convinced that this was the start of a sustained downtrend.

Of course, it could turn out to be just that. But it seems unlikely (read on to learn why).

So my personal recommendations for tariff blocking remain:

LOCK when you approach 7th DaysLOCK when you approach 15th DaysLOCK when you approach 30th DaysLOCK when you approach 45 DaysLOCK when you approach 60 Days

But with so much uncertainty right now, your instincts could easily turn out to be as good as mine – or better. So let your gut and your personal risk tolerance guide you.

Market Data Affecting Mortgage Rates Today

Here is a snapshot of the current situation this morning at 9:50 a.m. (CET) compared to yesterday at around the same time:

The Return on 10 year treasury held constant at 1.43%. ((Neutral for mortgage rates.) More than any other market, mortgage rates usually tend to follow these particular government bond yields, albeit more recentlyImportant stock indices were mostly a bit higher when opened. ((Bad for mortgage rates.Often times, when investors buy stocks, they sell bonds, which drives down bond prices and increases yields and mortgage rates. The opposite happens when the indices have lower oil prices rose from $ 60.56 a barrel to $ 60.88. ((Neutral for mortgage rates. *Energy prices play a major role in causing inflation and are also indicative of future economic activityGold prices fell from $ 1,736 an ounce to $ 1,725. ((Neutral for mortgage rates*.) In general, it is better for interest rates when gold rises and worse for interest rates when gold falls. Gold tends to rise when investors worry about the economy. And worried investors tend to cut ratesCNN Business Fear & Greed Index – Rose from 61 out of 100 to 64. (Bad for mortgage rates.) "Greedy" investors push bond prices down (and interest rates up) when they exit the bond market and invest in stocks, while "fearful" investors do the opposite. So lower readings are better than higher ones

* A change of less than $ 20 in gold prices or 40 cents in oil prices is a fraction of 1%. Hence, we count significant differences in mortgage rates only as good or bad.

Reservations about markets and prices

Before the pandemic and the Federal Reserve's intervention in the mortgage market, you could look at the numbers above and make a pretty good guess as to what would happen to mortgage rates that day. However, this is no longer the case. The Fed is a big player now and a few days may overwhelm investor sentiment.

Use markets only as a rough guide. Because they need to be exceptionally strong (which means rates are likely to go up) or weak (which means they could go down) to be a reliable indicator.

But with this restriction so far Mortgage rates are likely to remain stable today or close stable. Note, however, that intraday fluctuations (when prices change direction during the day) are common these days.

Find and lock a low rate (March 2, 2021)

Important information about today's mortgage rates

Here are some things you need to know:

The continued intervention of the Fed in the mortgage market (well over $ 1 trillion) should continue to put pressure on mortgage rates. But it can't always work miracles. Reading & # 39;For once, the Fed is affecting mortgage rates. Here's why"If you want to understand that aspect of what is happening
Typically, mortgage rates go up when the economy is doing well and go down when they are in trouble. There are exceptions, however. Reading & # 39;How are mortgage rates determined and why should you care?"
Only top notch borrowers (with great credit scores, high down payments, and very healthy finances) will get the extremely low mortgage rates you see advertised
Lenders vary. Yours may or may not follow the crowd when it comes to daily interest rate movements – though they all usually follow the broader trend over time
When interest rate changes are small, some lenders adjust closing costs and leave their interest rate cards the same
The refinancing rates are usually close to those for purchases. However, some types of refinancing are higher after a regulatory change

So there is a lot going on here. And no one can claim to know for sure what will happen to mortgage rates in the coming hours, days, weeks, or months.

Are mortgage and refinancing rates rising or falling?

today and so on

February was a bad month for mortgage rates. In general, the cases were rare and far apart – and slightly inferior by major climbs.

The 30-year fixed rate started just a stone's throw from its all-time low this month. But they finished it way north of the 3% mark.

Yesterday CNN reported on what is happening now:

Covid-19 no longer seems to be the number one concern on Wall Street as more and more people are being vaccinated. Now the focus is entirely on the bond market and inflation. Investors are starting to worry that the economy is warming too much and inflation is generating an undesirable return.

Wall Street's new sucker: the bond market – CNN March 1, 2021

Mortgage rates are usually closely related to bonds – and especially 10-year government bond yields. And that fear of inflation has been driving mortgage rates soar lately.

Do the last few working days that were friendlier for mortgage rates mean falling more? May be. But for now, I'm guessing it's more of the kind of seesaw we've seen in the stock markets lately, rather than a change of direction.

For more background on how I continue to think, check out our latest weekend edition, which is published just after 10 a.m. (ET) every Saturday.


For much of 2020, the general trend in mortgage rates was down significantly. According to Freddie Mac, there were 16 new weekly all-time lows in the past year.

The most recent weekly record low was recorded on January 7, 2021 when it was 2.65% for 30-year fixed rate mortgages. But then the prices went up.

Freddie's February 25 report puts that weekly average at 2.97% compared to 2.81% the previous week and its highest level since mid-2020.

Mortgage rate forecasting experts

Looking ahead, Fannie Mae, Freddie Mac, and the Mortgage Bankers Association (MBA) each have a team of economists devoted to monitoring and forecasting the impact on the economy, housing and mortgage rates.

Here are their current rate forecasts for each quarter of 2021 (Q1 / 21, Q2 / 21, Q3 / 21 and Q4 / 21).

The numbers in the table below are for a 30-year fixed rate mortgage. Fannies and MBA were updated on February 18th and 19th. But Freddie is now publishing quarterly forecasts and his numbers are from mid-January:

Q1 / 21
Q2 / 21
Q3 / 21
Q4 / 21

Fannie Mae

Freddie Mac


However, with so many unknowns, the current number of predictions can be even more speculative than usual. And as the year goes on, the spread is sure to widen.

Find your lowest price today

Some lenders have been terrified by the pandemic. And they only limit their offerings to the most vanilla-flavored mortgages and refinances.

But others remain brave. And you can still likely find the withdrawal refinance, investment mortgage, or jumbo loan that you want. You just need to shop broader.

But of course, no matter what type of mortgage you want, you should do a lot of shopping in comparison. As a federal regulator, the Consumer Financial Protection Bureau says:

Shopping for your mortgage can result in real savings. It may not sound like much, but if you save even a quarter point on your mortgage, you will save thousands of dollars over the life of your loan.

Check your new plan (March 2, 2021)

Mortgage rate method

The mortgage reports receive interest rates based on selected criteria from multiple credit partners on a daily basis. We'll find an average rate and an annual interest rate for each type of loan that we want to show on our chart. Since we calculate a series of average prices, this will give you a better idea of ​​what you might find in the market. We also calculate average interest rates for the same types of loans. For example, FHA was fixed with FHA. The end result is a good snapshot of the daily rates and how they change over time.

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