Business is booming.

Mortgage Rates Today, Nov. 27 & Rate Forecast For Next Week

146


Today’s mortgage and refinance rates 

Average mortgage rates fell moderately yesterday. But they rose over the week.

However, things are different now from earlier in the week. And there’s a good chance that mortgage rates will fall next week. But whether that’s the case will depend on still emerging news concerning the new Omicron COVID-19 variant.

Find and lock a low rate (Nov 28th, 2021)

Current mortgage and refinance rates 

Program Mortgage Rate APR* Change
Conventional 30 year fixed 3.348% 3.367% -0.08%
Conventional 15 year fixed 2.761% 2.79% -0.07%
Conventional 20 year fixed 3.198% 3.233% -0.08%
Conventional 10 year fixed 2.732% 2.787% -0.05%
30 year fixed FHA 3.474% 4.242% -0.07%
15 year fixed FHA 2.772% 3.417% -0.08%
5/1 ARM FHA 2.594% 3.217% -0.06%
30 year fixed VA 3.287% 3.483% -0.11%
15 year fixed VA 2.842% 3.185% -0.17%
5/1 ARM VA 2.5% 2.473% -0.04%
Rates are provided by our partner network, and may not reflect the market. Your rate might be different. Click here for a personalized rate quote. See our rate assumptions here.

Find and lock a low rate (Nov 28th, 2021)


Should you lock a mortgage rate today?

Most markets were hit by a metaphorical express train yesterday. That took the form of a new variant of the coronavirus, dubbed “Omicron” by the World Health Organization (WHO). Read on to discover my thoughts on what it might mean for mortgage rates.

If Omicron takes off in the way some scientists fear, lower mortgage rates are likely to follow. But it’s too soon to be sure this isn’t a false alarm. So I’m leaving my personal rate lock recommendations in place for now. But I wouldn’t lock my rate until the situation’s clearer if I were you.

So, for now, those recommendations remain:

  • LOCK if closing in 7 days
  • LOCK if closing in 15 days
  • LOCK if closing in 30 days
  • LOCK if closing in 45 days
  • LOCK if closing in 60 days

However, with so much uncertainty at the moment, your instincts could easily turn out to be as good as mine — or better. So be guided by your gut and your personal tolerance for risk.

What’s moving current mortgage rates

Last week, I suggested that a winter wave of COVID-19 infections might bring lower mortgage rates for as long as it lasted. But the new Omicron variant (aka B.1.1.529) caught me and the rest of the world by surprise.

Yesterday, BBC News explained that there were already thousands of COVID-19 variants in circulation. But most of them had very similar effects on humans. It continued:

But this new variant has experts particularly worried because it is very different from the original Covid, which current vaccines were designed to fight. It has a long list of genetic changes — 50 in all. Of these, 32 are in the spike protein of the virus — the part which is the target of vaccines. However, it is too soon to know how much of a threat B.1.1.529 poses.

— BBC News, “What are the Covid variants and will vaccines still work?,” Nov. 26, 2021

Existing vaccines were precisely engineered to protect against existing variants. So nobody’s yet sure how effective they’ll be against Omicron’s new spike protein.

Most experts think they’ll still provide some protection. For example, The Guardian overnight reported:

The director of the Oxford Vaccine Group, which developed the AstraZeneca vaccine, expressed cautious optimism that existing vaccines could be effective at preventing serious disease from the Omicron variant and said it is unlikely to result in a reboot of the pandemic.

The Guardian, “Covid Live,” Nov. 27, 2021

But other scientists are more fearful. And all we know for certain is that nobody’s sure about much.

Not here — yet

The new variant was first identified in South Africa, though that may be a result of its sophisticated virus-monitoring resources. But there are already confirmed cases in Hong Kong, Israel and the UK. And there are suspected cases in the Czech Republic and Germany.

Meanwhile, when two flights from South Africa landed in the Netherlands overnight, 61 passengers tested positive for COVID-19, though it will take time to discover how many, if any, had the new variant. A New York Times reporter who was on one of those flights reported that as many as one-third of passengers defied the airline’s mask mandate.

There are no reported cases in the US so far. And the government is banning flights from South Africa and seven other countries starting Monday.

Omicron’s impact on markets and mortgage rates

You probably already know that markets hate few things more than uncertainty. And most responded sharply yesterday to news reports about Omicron. For example, the Dow recorded its worst-ever Black Friday.

The Wall Street Journal explained what happened to bonds:

Investors piled into government bonds and quickly recalibrated their expectations for interest-rate increases in response to the new COVID-19 variant first identified in South Africa. The yield on the 10-year U.S. Treasury note dropped to 1.484% Friday, according to Tradeweb, from 1.644% at Wednesday’s close. That marks the largest trading-session decline since March 2020, at the start of the coronavirus pandemic. Yields fall as bond prices rise.

— WSJ, “COVID-19 Variant Upends Investor Bets on Rate Increases,” (paywall) Nov. 26, 2021

That’s a huge one-day drop by any standards, but especially on a day when the market closed at lunchtime. And yet mortgage rates dropped only moderately.

How come? Well, it may be that some lenders didn’t adjust their rate cards that day to reflect the scale of the drop in the market for mortgage-backed securities, which is the type of bond that largely determines mortgage rates.

And, if that’s the case, we may well see some more — perhaps sharp — falls in mortgage rates today and next Monday morning.

And I’d expect low mortgage rates to last — and lower mortgage rates to be the short-term trend — at least until scientists better understand Omicron’s likely impact on health and the economy. And that might take weeks.

Further ahead

If it weren’t for the pandemic, mortgage rates would almost certainly be heading higher. Because the economic news (including data released earlier this week) all shows a strong economic recovery. And a strong economy and higher mortgage rates almost always go hand in hand.

True, you could argue that warm inflation is a weakness rather than a strength. But that, too, typically brings higher interest rates.

So, if mortgage rates fall again, it will be down to COVID-19. That might be because the Omicron variant proves as dangerous as some fear. Or it may be because a new winter wave in infections causes economic disruption. Or both.

Economic reports next week

We’ll see some important economic reports next week, including the monthly employment situation report. But, if markets remain spooked by Omicron, they might all be shrugged off.

The key ones below are in bold. But none of the other economic reports listed below is likely to cause much movement in markets unless it includes shockingly good or bad data:

  • Monday — October pending home sales
  • Tuesday — November consumer confidence index
  • Wednesday — November ADP employment report (private sector jobs) and the Institute for Supply Management (ISM) manufacturing index. October construction spending
  • Thursday — Weekly new claims for unemployment insurance to Nov. 27
  • Friday — November employment situation report, comprising nonfarm payrolls, unemployment rate and average hourly earnings. Plus ISM services index for November. And October’s factory orders

Friday would normally be a highly important day. But investors may be too obsessed by Omicron to notice.

Find and lock a low rate (Nov 28th, 2021)

Mortgage interest rates forecast for next week

Mortgage rates might fall next week. And it’s all down to the Omicron COVID-19 variant.

Mortgage and refinance rates usually move in tandem. And a gap that had grown between the two has been largely eliminated by the scrapping of the adverse market refinance fee.

Meanwhile, another recent regulatory change has likely made mortgages for investment properties and vacation homes more accessible and less costly.

How your mortgage interest rate is determined

Mortgage and refinance rates are generally determined by prices in a secondary market (similar to the stock or bond markets) where mortgage-backed securities are traded.

And that’s highly dependent on the economy. So mortgage rates tend to be high when things are going well and low when the economy’s in trouble.

Your part

But you play a big part in determining your own mortgage rate in five ways. And you can affect it significantly by:

  1. Shopping around for your best mortgage rate — They vary widely from lender to lender
  2. Boosting your credit score — Even a small bump can make a big difference to your rate and payments
  3. Saving the biggest down payment you can — Lenders like you to have real skin in this game
  4. Keeping your other borrowing modest — The lower your other monthly commitments, the bigger the mortgage you can afford
  5. Choosing your mortgage carefully — Are you better off with a conventional, FHA, VA, USDA, jumbo or another loan?

Time spent getting these ducks in a row can see you winning lower rates.

Remember, it’s not just a mortgage rate

Be sure to count all your forthcoming homeownership costs when you’re working out how big a mortgage you can afford. So focus on your “PITI.” That’s your Principal (pays down the amount you borrowed), Interest (the price of borrowing), (property) Taxes, and (homeowners) Insurance. Our mortgage calculator can help with these.

Depending on your type of mortgage and the size of your down payment, you may have to pay mortgage insurance, too. And that can easily run into three figures every month.

But there are other potential costs. So you’ll have to pay homeowners association dues if you choose to live somewhere with an HOA. And, wherever you live, you should expect repairs and maintenance costs. There’s no landlord to call when things go wrong!

Finally, you’ll find it hard to forget closing costs. You can see those reflected in the annual percentage rate (APR) you’ll be quoted. Because that effectively spreads them out over your loan’s term, making that higher than your straight mortgage rate.

But you may be able to get help with those closing costs and your down payment, especially if you’re a first-time buyer. Read:

Down payment assistance programs in every state for 2021

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The result is a good snapshot of daily rates and how they change over time.



Source link

146 Comments
  1. Dobqst says

    levofloxacin 500mg canada levaquin 500mg canada

  2. Eczoyx says

    buy avodart 0.5mg sale flomax for sale buy zofran 4mg for sale

  3. Rmlhrr says

    order aldactone generic buy valacyclovir 1000mg generic order fluconazole 200mg without prescription

  4. Gqhobi says

    ampicillin buy online ampicillin cheap cost erythromycin 250mg

  5. Pkhuqz says

    order generic fildena 50mg cheap robaxin order methocarbamol pill

  6. Frjuyp says

    order sildenafil pill sildenafil 50mg drug estrace for sale

  7. Kfyrcs says

    buy lamictal 200mg for sale buy vermox generic tretinoin gel price

  8. Aontjq says

    buy tadalafil 10mg for sale order diclofenac 50mg generic voltaren 50mg tablet

  9. Nvyxpy says

    brand accutane 40mg brand azithromycin 250mg brand zithromax 250mg

  10. Xyudrf says

    indocin 50mg canada order amoxicillin 250mg generic order amoxicillin 500mg online cheap

  11. Jkokof says

    cialis 40mg pill ed meds sildenafil 25 mg

  12. bitcoincasino says

    I am very impressed with your writing bitcoincasino I couldn’t think of this, but it’s amazing! I wrote several posts similar to this one, but please come and see!

  13. Jayiap says

    buy anastrozole 1mg sale Best price for generic viagra viagra 100mg usa

  14. Pkpceb says

    cialis 40mg sans ordonnance en pharmacie acheter 25mg viagra en ligne viagra 100mg en ligne

  15. Ssrxxp says

    order deltasone 20mg generic deltasone 10mg generic viagra next day

  16. Fzytsx says

    tadalafil kaufen sildenafil 100mg kaufen generika sildenafil 100mg fГјr frauen

  17. Flnrqt says

    purchase doxycycline pills order vardenafil 20mg without prescription order furosemide 40mg generic

  18. Oeuwbm says

    order altace 10mg brand temovate buy astelin 10ml sale

  19. Isheuz says

    catapres cost clonidine 0.1mg oral tiotropium bromide brand

  20. Ughtzc says

    buspar 5mg over the counter buy dilantin 100mg without prescription order ditropan 5mg generic

  21. Cztnnm says

    buy hytrin pills leflunomide 10mg over the counter brand azulfidine 500mg

  22. Fzimri says

    order alendronate generic panadol 500mg brand buy pepcid 40mg sale

  23. Evijhx says

    prograf 5mg pills ursodiol 300mg ca brand urso

  24. Dntiks says

    generic imdur order lanoxin without prescription cheap telmisartan 80mg

  25. Rnyvux says

    purchase zyban pills bupropion brand purchase seroquel for sale

  26. Tdotoy says

    buy molnupiravir 200 mg online order prevacid 30mg online prevacid 15mg ca

  27. Wjjmjp says

    cost zoloft Canada meds viagra purchase sildenafil generic

  28. Jyidin says

    buy imuran online cheap order generic viagra 100mg buy viagra 100mg generic

  29. Dovbau says

    cialis 10mg pill buy cialis 10mg viagra drug

  30. Ikigya says

    tadalafil canada order tadalafil for sale order symmetrel pill

  31. Yokneb says

    buy revia 50 mg without prescription abilify 30mg canada purchase abilify generic

  32. Cjktqr says

    dapsone 100mg drug allegra 120mg pills perindopril order online

  33. Sibdgz says

    medroxyprogesterone 10mg drug microzide 25 mg sale order generic cyproheptadine 4mg

  34. Mkwcwh says

    modafinil usa order provigil 100mg where to buy ivermectin cream

  35. Tayysm says

    isotretinoin 20mg brand deltasone online order generic prednisone 40mg

  36. Bemqkp says

    buy nootropil 800 mg piracetam 800mg pills order sildenafil 50mg online cheap

  37. Luqtdx says

    tadalafil order viagra 100mg us sildenafil 50mg pills for men

  38. Qfakha says

    buy lasix online cheap plaquenil tablet hydroxychloroquine 200mg brand

  39. Uceseg says

    cialis 5mg for sale purchase clomipramine pills buy clomipramine 25mg online

  40. Yrsssy says

    buy chloroquine pills order cenforce baricitinib 4mg uk

  41. Hewqbm says

    oral sporanox 100mg purchase tindamax online buy tindamax 500mg

  42. Dgvrpa says

    buy metformin 1000mg for sale purchase lipitor for sale brand cialis

  43. Xmmzzm says

    buy zyprexa 10mg generic purchase zyprexa online diovan generic

  44. Lacdao says

    amlodipine 5mg without prescription order cialis 40mg online tadalafil 20mg pills

  45. Jzdmtm says

    buy clozapine 100mg generic buy generic ipratropium decadron order online

  46. Dcuthm says

    order sildenafil 100mg online buy viagra 100mg sale order lisinopril 10mg generic

  47. Zdrdjz says

    prilosec ca prilosec 10mg us online casino real money us

  48. Ymyeci says

    buy lopressor 50mg online cheap levitra order levitra tablet

  49. Wuvlmq says

    my family essay writing writing a paper poker sites

  50. Qaryiz says

    write my assignment for me money can t buy everything essay female viagra sildenafil

  51. Fvdafe says

    generic cialis india cialis 10mg oral order generic sildenafil 100mg

  52. Gtnluc says

    triamcinolone over the counter buy aristocort 10mg online oral desloratadine

  53. Mbfgdb says

    priligy 90mg generic buy dapoxetine 30mg pills order synthroid 75mcg generic

  54. Wwdkjt says

    tadalafil 5 mg tablet viagra 100mg oral sildenafil over the counter

  55. Iwiqlb says

    buy xenical generic order xenical generic acyclovir 800mg without prescription

  56. Gbemky says

    cialis overnight shipping clopidogrel online buy clopidogrel for sale

  57. Hnatqk says

    order zyloprim 100mg generic cheap allopurinol 300mg zetia price

  58. Pdpxcv says

    methotrexate price warfarin 5mg ca metoclopramide order

  59. Esqozs says

    domperidone price sumycin usa purchase cyclobenzaprine generic

  60. Krhkzm says

    purchase cozaar online esomeprazole 40mg without prescription buy topiramate 200mg pills

  61. Sxwerf says

    order ozobax pill purchase baclofen generic toradol 10mg price

  62. Rwqgvc says

    cheap sumatriptan 25mg buy generic levofloxacin avodart 0.5mg canada

  63. Xjekkk says

    purchase colchicine sale free slot machine games roulette online for real money

  64. Ansuue says

    cost zantac 150mg ranitidine 150mg pill order celecoxib 200mg online cheap

  65. Zsfrsr says

    real money blackjack slot machine no deposit bonus codes

  66. Jwzxfw says

    order flomax 0.2mg for sale aldactone 25mg oral aldactone order

  67. Lpnbzr says

    cialis online acillin pill cipro 500mg cheap

  68. Hnzkvu says

    buy simvastatin online cheap order finasteride 5mg pill finasteride 5mg oral

  69. Efiqwc says

    buy flagyl without prescription buy sulfamethoxazole without prescription trimethoprim uk

  70. Evsjkf says

    cost diflucan 200mg buy viagra 50mg pill order sildenafil 50mg online

  71. Jgwrug says

    cephalexin brand buy cleocin 150mg generic erythromycin pills

  72. Isrdvs says

    cialis 20mg sildenafil cheap order sildenafil 100mg

  73. Qxpfgf says

    real viagra order viagra 100mg pills tadalafil 40mg drug

  74. Oanvbb says

    real money online blackjack buy cialis 20mg online cheap cialis 40mg brand

  75. Dkxbwh says

    buy desyrel sale purchase desyrel pill order sildenafil 50mg online cheap

  76. Fvxznh says

    academic writing online order stromectol 12mg without prescription how much does ivermectin cost

  77. Jlqugx says

    sildenafil 200mg price buy lamictal 200mg online cost lamotrigine 50mg

  78. Gtzjta says

    prednisone 10mg usa amoxil 1000mg us amoxil 500mg over the counter

  79. Vpksmk says

    viagra 50mg us viagra 50mg usa cialis 40mg uk

  80. Zrkins says

    azithromycin 250mg generic purchase gabapentin without prescription gabapentin for sale online

  81. Giphhw says

    free slot games no download casino play tadalafil 20mg brand

  82. Uwfgrm says

    lasix 100mg oral order doxycycline 200mg without prescription generic hydroxychloroquine

  83. Wbaltr says

    prednisone 5mg price brand prazosin 1mg order vermox

  84. Vdiigz says

    order fildena 100mg buy rhinocort for sale rhinocort sale

  85. Lukfbg says

    brand retin tadalafil price avanafil for sale

  86. Ffzcxp says

    buy tadalafil 10mg without prescription indomethacin 75mg for sale cheap indomethacin 75mg

  87. Niapnq says

    brand lamisil 250mg buy suprax 200mg online amoxicillin cost

  88. Wpetki says

    naprosyn 250mg us order generic lansoprazole 30mg order lansoprazole without prescription

  89. Ukjgzm says

    clarithromycin for sale antivert 25mg generic buy antivert 25 mg pill

  90. Jodzpi says

    order proventil 100 mcg without prescription generic albuterol cipro 1000mg uk

  91. Erzvwj says

    montelukast 10mg cost order sildenafil 100mg without prescription viagra 100mg pill

  92. Qnvakf says

    buy pioglitazone 30mg without prescription pioglitazone order online buy viagra 100mg without prescription

  93. Fijfsu says

    purchase cialis sale cialis 5mg us tadalafil 20mg ca

  94. Irinnv says

    cialis ca Cialis canadian cost casino free spins no deposit

  95. Jtxyxw says

    ivermectin medicine amantadine 100 mg uk buy dapsone generic

  96. Fgzpay says

    online blackjack live dealer legal online blackjack poker online game

  97. Btlabi says

    quick hits free online slots online casino games black jack card game free

  98. Vrgpsy says

    purchase adalat for sale buy aceon 4mg for sale order fexofenadine 120mg generic

  99. Ahpfdk says

    no deposit free spins casino play online roulette for fun do my term paper

  100. Xhgykh says

    ramipril 5mg brand order altace 10mg generic arcoxia 60mg ca

  101. Pwjkrv says

    order doxycycline pills buy albuterol 4mg generic order cleocin 300mg pill

  102. Lqyrxr says

    order research paper order leflunomide 10mg generic sulfasalazine cost

  103. Qongiw says

    asacol 800mg without prescription azelastine 10 ml nasal spray cost avapro 150mg

  104. Lifwjo says

    benicar 10mg usa calan price buy generic depakote 500mg

  105. Frtpmz says

    buy acetazolamide 250mg pills buy azathioprine for sale generic azathioprine 25mg

  106. Fduueq says

    temovate over the counter temovate oral amiodarone drug

  107. Ibaeqi says

    buy lanoxin 250mg online order micardis 80mg for sale buy molnunat 200mg

  108. Samuelhig says

    Cautions. Best and news about drug.
    https://viagrapillsild.online/# paypal drug store viagra
    earch our drug database. All trends of medicament.

  109. Ijcobq says

    order coreg 25mg generic carvedilol buy online order amitriptyline without prescription

  110. Wxflsk says

    buy amoxicillin 1000mg buy amoxil pills ivermectin 3mg online

  111. AlbertPhync says

    Everything information about medication. Read now.
    [url=https://tadalafil1st.online/#]tadalafil generic otc[/url]
    Best and news about drug. Everything what you want to know about pills.

  112. Luslgi says

    buy fosamax sale order alendronate 70mg pill order ibuprofen pills

  113. Pkuaxc says

    purchase dapoxetine generic motilium 10mg generic motilium drug

  114. Lksckz says

    pamelor over the counter nortriptyline 25mg sale paxil pills

  115. AlbertPhync says

    Read here. safe and effective drugs are available.
    where to buy cialis online
    Get here. Medscape Drugs & Diseases.

  116. Suqjoj says

    order indomethacin 50mg pills order generic flomax 0.4mg order cenforce 100mg for sale

  117. Acanbh says

    purchase pepcid pills tacrolimus 5mg generic remeron pills

  118. Mudqtp says

    cost requip 1mg trandate sale order labetalol 100 mg sale

  119. Onkzjp says

    order fenofibrate generic sildenafil 50mg drug sildenafil 50mg sale

  120. Wqoynw says

    tadalafil 20mg usa trimox 500mg uk order trimox

  121. Myreus says

    nexium pills esomeprazole usa order furosemide 40mg

  122. Wxcwmu says

    tadalafil generic mail viagra best ed medications

  123. Urstuj says

    order minocycline 100mg for sale gabapentin online buy purchase terazosin without prescription

  124. Awwpor says

    provigil 100mg over the counter order phenergan order promethazine generic

  125. Dmmhts says

    buy glycomet sale nolvadex 20mg us tamoxifen 20mg generic

  126. Xhcvvv says

    deltasone 5mg cost deltasone 5mg pills amoxil 250mg generic

  127. Vpjavy says

    clomiphene for sale online clomiphene 100mg brand prednisolone 5mg pill

  128. Wmxulx says

    purchase fildena pill pregabalin 150mg usa buy finasteride 1mg sale

  129. Xdytjz says

    buy accutane 40mg pills buy ampicillin generic ampicillin ca

  130. Wlmstn says

    zofran 8mg pill sulfamethoxazole uk bactrim 960mg over the counter

  131. Ddwrfk says

    stromectol tablets best place to buy ed pills online buy prednisone 20mg online cheap

  132. Ccpdcd says

    ventolin 4mg ca order ventolin 2mg online order augmentin 625mg without prescription

  133. Atcrbw says

    accutane without prescription order azithromycin 500mg for sale order zithromax sale

  134. Ifikah says

    modafinil 100mg pill lisinopril 10mg uk metoprolol oral

  135. Rjajvs says

    prednisolone usa order gabapentin 800mg without prescription cost lasix 100mg

  136. Dxnbqd says

    order avodart 0.5mg pill buy xenical pill orlistat 120mg oral

  137. JrerInvic says

    what is the best essay writing service cheap essay writer scholarship essay writing help

  138. EcfPhype says

    english essay help online help with essay online essay helper

  139. Fxetft says

    brand doxycycline 100mg zovirax 400mg pill buy zovirax cheap

  140. Cktrlb says

    buy imuran sale order azathioprine 25mg pill order naproxen 500mg pill

  141. JnerInvic says

    thesis for phd how to write a thesis statement for an informative essay thesis outline example

  142. EwnPhype says

    analytical thesis statement define: thesis plural thesis

  143. Wujwadurf says

    example of a good thesis statement thesis college which of the following statements most directly expresses the author’s thesis in the passage?

  144. Xctoop says

    purchase omnicef oral prevacid 15mg order pantoprazole 20mg for sale

  145. Mdeqwr says

    oxybutynin price purchase prograf without prescription trileptal order

  146. QeeFleld says

    thesis printing the thesis statement cruel angel’s thesis chords

Leave A Reply

Your email address will not be published.