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Last updated on June 15th, 2021 at 02:40 pm
Last Friday the average mortgage rates fell. And this week they start at their lowest level in more than a month.
However, the early movements in markets suggest that mortgage rates could rise today.
The conventional 30 years fixed mortgage rate remains unchanged at 2.81%
The conventional 20 years fixed mortgage rate remains unchanged at 2.62%
The conventional 15 years fixed mortgage rate use by 0.01% today and is standing at 2.13%
The conventional 5 year ARM stands at 3.53% same as last week.
The 30 years fixed FHA remains unchanged since a week back at 2.68%
The 15 years fixed FHA rate has moved up by 0.14% since last week standing today at 2.41%
Last week’s rate fall was welcoming but the rates will not stay there for long.
Compared to last week the yield on the 10-year treasury rose by 0.03%, which is bad news for mortgage rates.
The mortgage rates and economy go hand in hand if the economy does well the rates will go up and economists are expecting 2021 to be a boom year so if you are still looking for an opportunity to lock in a mortgage now is the best time.
Reference Source: The Mortgage Rates
