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Compare Today’s Refinance Rates
Current mortgage refinance rates
Mortgage rates change all the time, driven by factors like the economy, Treasury bond rates and demand. Lenders nationwide provide weekday mortgage rates to our comprehensive national survey of the most current rates available. The interest rate table below is updated daily. Use these as a guide to what’s available, but keep in mind your rate may vary depending on your qualifications and the lender you choose.
|30-Year Fixed Rate||2.940%||3.120%|
|20-Year Fixed Rate||2.820%||2.990%|
|15-Year Fixed Rate||2.250%||2.490%|
|10/1 ARM Rate||3.690%||3.630%|
|7/1 ARM Rate||3.650%||3.600%|
|5/1 ARM Rate||2.720%||3.980%|
|30-Year VA Rate||2.640%||2.870%|
|30-Year FHA Rate||2.570%||3.460%|
|30-Year Fixed Jumbo Rate||2.940%||3.030%|
|15-Year Fixed Jumbo Rate||2.240%||2.320%|
|7/1 ARM Jumbo Rate||3.880%||3.480%|
|5/1 ARM Jumbo Rate||2.670%||3.580%|
Rates as of August 3rd, 2021 at 6:30 AM
Where are rates headed?
Up. Mortgage interest rates fell to record lows during the coronavirus pandemic, which led to a huge surge in refinancing and homebuying. Rates have been trending up since February 2021 but they are still not far from record-low territory and are relatively low by historical standards. Most experts say it may be many months or even years before mortgage rates return to their pre-pandemic levels.
Mortgage Refinance News
In a bid of good news for borrowers, the Federal Housing Finance Agency plans to eliminate its 0.5 percent fee on refinances as of Aug. 1. The fee applied to loans of more than $125,000 that were bought by Fannie Mae and Freddie Mac.
Borrowers didn’t pay the fee directly. Instead, lenders usually boosted rates by an eighth of a percentage point, or about $20 a month on a $300,000 loan.
What this means for borrowers
The FHFA’s move means that rates on refinances should come down slightly in August.
"Santa Claus has come early for homeowners looking to refinance their mortgages,” says Greg McBride, CFA, Bankrate’s chief financial analyst. “The Federal Housing Finance Agency will repeal the much-maligned half percentage point fee that was being tacked on to Fannie Mae and Freddie Mac mortgage refinancing loans since last year. Some of the savings will make it into the pockets of consumers, but how much the borrower sees will be dependent on shopping around for the best deal."
What to you need to know about refinancing your mortgage
Mortgage rates in other states
- United States
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington DC
- West Virginia