Today’s Mortgage and Refinance Rates: July 10, 2021

Mortgage rates today: July 10, 2021

Mortgage type Average price today
Fixed for 15 years 2.39%
30 years 3.31%
7/1 ARM 4.19%
10/1 ARM 4.10%
30 years of FHA 2.86%
VA mortgage loan 2.89%

Conventional Tariffs from Money.com; government-sponsored rates from RedVentures.

Today’s refinancing rates: July 10, 2021

Mortgage type Average price today
Fixed for 15 years 2.62%
30 years 3.71%
7/1 ARM 4.18%
10/1 ARM 4.37%
30 years of FHA 2.90%
VA mortgage loan 2.90%

Conventional Tariffs from Money.com; government-sponsored rates from RedVentures.

Mortgage Interest Forecast

The U.S. economy struggled during the COVID-19 pandemic, and mortgage rates remained low as a result. There is speculation that if the economy continues to improve, mortgage rates could rise.

Employment numbers are improving in the US, which could lead to rising mortgage rates in the future. But the country will likely need longer-term, more stable hikes for mortgage rates to respond. Last week, 373,000 Americans applied for unemployment insurance, beating the estimate of 350,000.

Inflation has also risen, which could drive mortgage rates higher in the long run. The

Federal Reserve
however, predicts that high inflation will be a temporary response to business reopening if Americans are vaccinated.

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The June consumer price index summary, a popular tool for measuring inflation, will be released on Monday. The results could give Americans a better idea of ​​how mortgage rates are moving later in 2021.

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