Mortgages Rates Today; July 2021 Exhibiting Continuously Low Rates

asian man showing his shocked wife eviction notice 2021 04 03 21 17 56 utc min scaled

Thursday, July 29, 2021

Since the last time, there is no major difference in the mortgage rates. The rates are flickering in a downward trend, and it seems that they won’t go up anytime soon. According to Bankrate predictions, the rates for today are as follows:

  • 30-year fixed mortgage rate: 3.020% for home purchase and 3.000% for refinance
  • 15-year fixed mortgage rate: 2.300% for home purchase and 2.290% for refinance
  • 5/1 ARM: 2.780% for home purchase and 2.720% for refinance
  • 30-year fixed-rate jumbo mortgage rate: 3.040% for home purchase and 3.010% for refinance

What Is the Trendline?

30-year fixed mortgage

Since yesterday, there has been a reduction of one basis point. However, the overall change since last week shows that the rates are up by four basis points. Elsewhere, the rates are still lower by 12 basis points than last month. In the previous few days, we see that the rates fluctuate between 2.99-3.03, which is very insignificant.

This may be due to the FEDs policy of keeping the rates steady artificially by purchasing MBS. High purchase of MBS will drive down rates. Moreover, the refinance rates have risen since last by four basis points. Still, they are insanely low than last month’s rates. Experts suggest waiting and refinance when rates drop again in a while. 

15-year fixed mortgage

Since yesterday, the rates are down by one basis point, whereas they are down by three basis points since the last seven days. Surprisingly, the refinance rates for a 15-year mortgage fell by three basis points since last week, which is a good sign. If you’re a 30-year mortgage and have 20 years left, it may be a good option to consider refinancing. 

Refinancing to a short-term at a low rate will help you take ownership of your home soon.

5/1 ARM

There’s been no change since yesterday, while the rates are down by two basis points over the same days. There’s no considerable change in this mortgage type because most homeowners focus on the typical 15 and 30 term mortgages. 

30-year fixed jumbo mortgage

Since yesterday, the rates are down by one basis point. However, there is an increase of five basis points since last week. The rates were ten basis points higher in the previous month. 


As of today, the rates are still low. However, these are average rates, and they might be nowhere near the rates you’ll qualify for. Nevertheless, it’s an ideal opportunity to refinance. Do yourself a favor and get free quotes from the rate checker to learn about the great deals.