Today’s Mortgage and Refinance Rate: August 28, 2021

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Mortgage and refinance rates have been choppy in recent weeks, fluctuating in some cases by several basis points over the course of a day.

Variable rate mortgage rates fell, skyrocketed, and then fell again – some rates below 4%, a low we haven’t seen in months. Average rates for fixed rate mortgages remain low, as do average rates for FHA and VA loans. Overall, mortgage rates are at historically low levels.

Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

How mortgage rates have changed

Mortgage rate trends

Money.com conventional rates; RedVentures government guaranteed rates.

Trends in refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage rate forecast in 2021

Mortgage rates should stay low for a few more months, but you may see rates start to rise later in the year.

Mortgage rates are highly dependent on employment and inflation in the United States. When employment and inflation figures improve, mortgage rates rise; when they get worse, mortgage rates go down.

However, unemployment and inflation need to grow steadily and over the long term for mortgage rates to rise. If both continue to improve over the next few months, we might see higher rates.


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