Mortgage News Today; Slightly up Than Yesterday

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Thursday, July 15, 2021

The central decision regarding the mortgage rates solely rests upon the discretion of the FEDs. No matter how many estimates any financial institution makes, a slight decision by FEDs can reverse the situation. Yesterday, the mortgage rates for purchasing homes were trending low. However, rates for some mortgage types have risen since yesterday.

Although they might be lower as compared to a week ago, they still rose slightly since yesterday. Let’s see what the rates are as of today!

  • 30-year fixed mortgage: 3.040% for purchase and 3.100% for refinance
  • 15-year fixed mortgage rate: 2.380% for purchase and 2.430% for refinance
  • 5/1 ARM: 2.820% for purchase and 2.740% for refinance
  • 30-year fixed-rate Jumbo: 3.040% for purchase and 3.110% for refinance


According to Bankrate, the mortgage rates are outlined above. Let’s see how the rates are moving compared with yesterday and last week.

30-year fixed mortgage

As compared to yesterday, there has been an increase of two basis points in the mortgage rate. However, there has been a decline of three basis points since last week. The reasons to account for these changes are relating to economic growth expectations and reduction in unemployment. FEDs have been keeping a policy of low rates, which explains the stagnant trend of mortgage rates.

However, experts suggest that the rates would go in the near future due to increased economic growth and development. It’ll cause spending in the US economy to trigger an increase in mortgage demand, leading to high rates. Fortunately for homeowners, the refinance rate on a 30-year mortgage is also trending low.

The rate for today is 3.100%, 4 basis points down since last week. Also, the rate was 3.22 for the last month. Therefore, it indicates that there is a significant fall in the mortgage refinance rate, and it’s a good time for homeowners looking to refinance.

15-year fixed mortgage

Since yesterday, there has been an incline of one basis point. However, the rates are unchanged compared to a week ago. The rate for this mortgage has been fluctuating over the same range for quite a time now. The sole reason for this stagnancy is high competition among lenders, and it’s a popular choice of borrowers.

It may increase costs but can pay off the obligation in a short time. Also, the refinance rate for a 15-year mortgage is exhibiting an insignificant decline of one basis point. Homeowners looking for refinancing and lock in a plausible deal shouldn’t miss out on this opportunity. If you have a budget to pay for the monthly mortgage payment, a 15-year refinance might be the best option.

5/1 ARM

Since yesterday, there has been no change in the rates. However, the rates have dropped by four basis points since last week. It’s a good sign for borrowers who are willing to sell off their property after the first or second adjustment.

30-year fixed-rate jumbo mortgage

As compared to yesterday, the rates have shown an insignificant increase of one basis point. Fortunately, the rates are down by around three basis points since last week. This is a very good sign for people who want to buy exotic properties which cost more than the minimum amount any lender would approve.

Jumbo mortgage is especially for people who are on the hunt to purchase expensive properties.

Final Verdict

The trendline depicts that the rates are slightly rising since yesterday. However, if we compare them over the long run, i.e., week or month, the rates are lower. Nonetheless, experts expect the mortgage rate to rise in the future—the sole reason being the optimism of massive economic growth.

Whatever the case will be, we’ll see it soon. Still, refinancing rates are all-time low. Borrowers who have plenty of budget for monthly payments, they’re losing out on an amazing opportunity to get the best deal. If you want to get quotes, don’t wait, and act up. Go to the rate checker and get free quotes.