Today's mortgage and refinance rates
Average mortgage rates fell just a few inches yesterday. And that was quite a surprise. All the signs first that morning pointed to an ascent.
Key markets were the first to be subdued. And Mortgage rates could stay stable today or be just inches from the neutral line.
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Current mortgage and refinancing 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 (April 30, 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?
You haven't lost or won a significant amount in the past few weeks, regardless of whether you were pending or suspended. However, there is a risk that mortgage rates will rise sharply upon their arrival. So if you're still floating around, check with your lender to see if you can lock up immediately when the time comes.
However, my personal recommendations for tariff blocking remain for the time being:
LOCK when you approach 7th DaysLOCK when you approach fifteen DaysLOCK when you approach 30th DaysLOCK when you approach 45 DaysLOCK when you approach 60 Days
But I am not saying that I am completely forward-looking. And your personal analysis could turn out to be as good as mine – or better. So you can be guided by your instincts and your personal risk tolerance.
Market Data Affecting Mortgage Rates Today
Here's a snapshot of the current status this morning at 9:50 a.m. (ET). The dates, compared to about the same time yesterday, were:
The Return on 10 year treasury fell from 1.69% to 1.64% (Good 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 lower when opened. (Good for mortgage interest.Often times, when investors buy stocks, they sell bonds, which lowers the prices of those bonds and increases yields and mortgage rates. The opposite happens when the indices are lowerOil prices fell from $ 65.15 a barrel to $ 63.75. ((Good for mortgage rates *.Energy prices play a major role in causing inflation and are also indicative of future economic activity. Gold prices increased from $ 1,767 per ounce to $ 1,770. ((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 – Decreased from 68 from 100 to 60. (Good 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. We still use the phone every day. And are usually right. However, our record for accuracy will not reach its former high level until things settle down.
Use markets only as a rough guide. Because they have to be exceptionally strong or weak to be relied on. But with this restriction so far Mortgage rates are likely to remain unchanged today or change little. Note, however, that intraday fluctuations (when prices change direction during the day) are a common feature these days.
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Important information about today's mortgage rates
Here are some things you need to know:
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 ultra-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 the daily rate changes are small, some lenders adjust closing costs and leave their 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
Yesterday's decline in mortgage rates was the smallest measurable, but surprising. Twenty-four hours ago we forecast an increase. And quoted a CNBC headline: "US and UK short bonds as market indecision wanes, analysts say." Well, that looks premature now.
But it doesn't look wrong. The top story of the New York Times ran overnight under the heading “USA The strong start of the economy signals an outstanding year. "And in my opinion, mortgage rate hikes will most likely kick in very soon. But as yesterday proved, I don't know exactly when.
Although I have an egg in my face after yesterday's false forecast of interest rate movements that day, nothing has changed. Freddie Mac's weekly poll found that mortgage rates rose (albeit very little) from Thursday through Thursday over the past week.
And it feels to me that the key markets are about to take a decisive step. How long can they ignore the amazingly positive domestic economic data when the threats to American prosperity seem distant and speculative?
The vast majority of economists expect 2021 to be a boom year. Some think it will be the best since the Reagan era, and some believe it could even top that. However, higher rates are an almost invariable feature of booms. And so I'm relatively certain – without catastrophic events – that mortgage rates will rise soon.
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, a new weekly all-time low was hit 16 times in the past year.
The latest weekly record low was hit on January 7th when 30-year fixed rate mortgages stood at 2.65%. But then the trend was reversed and interest rates rose.
However, those spikes have been largely replaced by falls in April, though these have eased since the middle of the month. According to Freddie's April 29 report, that weekly average is 2.98% (with 0.7 fees and points) compared to 2.97% the previous week.
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.
And here are their current interest rate forecasts for the remaining quarters of 2021 (Q2 / 21, Q3 / 21, Q4 / 21) and the first quarter of 2022 (Q1 / 22).
The numbers in the table below are for a 30-year fixed rate mortgage. Freddies were updated on April 14th, Fannies on April 12th, and the MBA on April 22nd.
Q2 / 21
Q3 / 21
Q4 / 21
Q1 / 22
However, with so many unknowns, the current number of predictions might be even more speculative than usual.
Find your lowest price today
Some lenders have been terrified by the pandemic. And they 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 you should do a lot of shopping in comparison, no matter what type of mortgage you want. 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 (April 30, 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.