Today’s mortgage and refinance rates: July 9, 2021

Conventional rates from Money.com; government-backed rates from RedVentures.

Current refinance ratesMortgage typeAverage rate today15-year fixed2.61%30-year fixed3.74%7/1 ARM4.0%10/1 ARM4.10%30-year FHA2.66%VA mortgage loan2.76%

Conventional rates from Money.com; government-backed rates from RedVentures.

How mortgage rates have changedMortgage rate trendsMortgage typeAverage rate todayAverage rate last week15-year fixed2.37%2.48%30-year fixed3.31%3.41%7/1 ARM3.77%4.10%10/1 ARM3.69%4.26%30-year FHA2.62%2.79%VA mortgage loan2.73%2.73%

Conventional rates from Money.com; government-backed rates from RedVentures.

Refinance rate trendsMortgage typeAverage rate todayAverage rate last week15-year fixed2.61%2.67%30-year fixed3.74%3.86%7/1 ARM4.0%4.27%10/1 ARM4.10%4.61%30-year FHA2.66%2.82%VA mortgage loan2.76%2.77%

Conventional rates from Money.com; government-backed rates from RedVentures.

The forecast for mortgage rates in 2021

Mortgage rates should stay low for a couple more months, but you may see rates start rising in late summer or fall.

Mortgage rates heavily rely on employment and inflation in the US. When employment numbers and inflation improve, mortgage rates increase; when they get worse, mortgage rates decrease.

Unemployment and inflation need to have long-term, steady growth for mortgage rates to increase, though. If both continue to improve over the next couple of months, we could see higher rates.

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Laura Grace Tarpley is an editor at Insider, responsible for banking and mortgage coverage on Personal Finance Insider. She covers mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips. She is also a Certified Educator in Personal…

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Best Mortgage Rates Today: Friday July 9, 2021

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