January 17, 2022
Today’s Mortgage Rates Slide Again | December 20, 2021 | Personal Finance | dailyprogress.com – The Daily Progress

Today’s Mortgage Rates Slide Again | December 20, 2021 | Personal Finance | dailyprogress.com – The Daily Progress

Adjustable-rate mortgage rates today

  • The latest rate on a 5/1 ARM is 2.158%. ⇓
  • The latest rate on a 7/1 ARM is 2.939%. ⇓
  • The latest rate on a 10/1 ARM is 3.168%. ⇓

An adjustable-rate mortgage can be a good option for buyers who won’t be keeping the home long. ARMs will have a fixed introductory or “teaser” rate for a set number of years before the rate starts resetting regularly. The rate on a 5/1 ARM, for example, is fixed for five years and then changes yearly. The risk with an ARM over the long term is that at some point the rate could increase significantly, increasing the monthly payment as well.

Current mortgage rates: VA, FHA and jumbo loan rates

The average rates for FHA, VA and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 3.193%. ⇓
  • The rate on a 30-year VA mortgage is 3.252%. ⇓
  • The rate on a 30-year jumbo mortgage is 3.489%. ⇓

Current mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed-rate refinance is 3.711%. ⇓
  • The refinance rate on a 15-year fixed-rate refinance is 2.625%. ⇓
  • The refinance rate on a 5/1 ARM is 2.428%. ⇓
  • The refinance rate on a 7/1 ARM is 3.328%. ⇑
  • The refinance rate on a 10/1 ARM is 3.813%. ⇓

Source: https://dailyprogress.com/business/investment/personal-finance/today-s-mortgage-rates-slide-again-december-20-2021/article_f03da0dd-d502-5e5a-824e-60e3b45f1fe7.html

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