Today’s 30-year mortgage rates remain comfortably in the high 3% range

Money.com conventional rates; RedVentures government guaranteed rates.

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage rate trends

Money.com conventional rates; RedVentures government guaranteed rates.

Over the past week, most average rates for conventional mortgages have increased slightly, while average rates for government guaranteed loans have declined. The only average rate currently above 4% is the same as last week: the ARM 7/1, which now shows an average interest rate of 4.25, up nearly 20 basis points from last week.

Trends in refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Average interest rates for refinance loans are not that much different from mortgage rates at this time. However, compared to last week, they are mixed: some have increased while others have fallen. As with mortgage rates, the lowest average rates are for 15-year fixed loans and government guaranteed loans, while the highest are for ARMs.

Mortgage and refinancing rates by state

Check out the latest rates for 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
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

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

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.

About the authors

Laura Grace Tarpley is a writer at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

Ryan Wangman is a Review Officer at Personal Finance Insider and reports on mortgages, refinancing, bank accounts, bank reviews, and loans. In his past writing about personal finance, he wrote about credit scores, financial literacy, and homeownership.


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