Current mortgage rates

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

Current refinancing rates

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

How mortgage rates have changed

Mortgage rate trends

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

Fixed-rate mortgage rates rose last week, but only by a maximum of nine basis points. The interest rates on adjustable rate mortgages have also shifted; the average rate for a 7/1 ARM decreased by four basis points to 4.16%, while the average rate for a 10/1 ARM rose to just under 4%. On government-backed mortgages, the interest on a 30-year FHA loan decreased 15 basis points, but the interest on a VA loan only increased one.

Refinancing rate trends

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

All average fixed and floating refinancing rates have increased over the past week, but only slightly. In contrast, the interest rates for government-covered refinancing loans have remained almost constant or have fallen.

Mortgage and refinance rates by state

Check the current prices in your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington, DC
West Virginia
Wisconsin
Wyoming

The forecast for mortgage rates in 2021

Mortgage rates should stay low for a few more months, but you may find rates rise in late summer or fall.

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

However, unemployment and inflation need long-term, steady growth in order for mortgage rates to rise. If both continue to improve over the next few months, we could see higher rates.

About the authors

Laura Grace Tarpley is an editor at Personal Finance Insider, specializing in mortgages, refinancing and lending. She is also a certified trainer for personal finance (CEPF). In her five years studying personal finance, she has written extensively on ways to manage credit.

Ryan Wangman is a Review Fellow at Personal Finance Insider reporting on mortgages, refinances, bank accounts, bank reviews, and loans. In his previous personal finance writing experience, he wrote about creditworthiness, financial literacy, and home ownership.