Today’s mortgage and refinance rates
Average mortgage rates edged higher yesterday, following news from the Federal Reserve. They’d have probably gone higher had the Fed not signaled its intentions well in advance of its announcement.
First thing this morning, it was looking as if mortgage rates today might be unchanged or barely changed. But that could turn out differently as the day progresses.
Find your lowest rate. Start here (Dec 17th, 2021)
Current mortgage and refinance rates
Program | Mortgage Rate | APR* | Change |
---|---|---|---|
Conventional 30 year fixed | 3.302% | 3.323% | +0.01% |
Conventional 15 year fixed | 2.548% | 2.582% | Unchanged |
Conventional 20 year fixed | 3.19% | 3.227% | +0.02% |
Conventional 10 year fixed | 2.625% | 2.696% | -0.01% |
30 year fixed FHA | 3.301% | 4.067% | +0.01% |
15 year fixed FHA | 2.528% | 3.133% | -0.14% |
5/1 ARM FHA | 2.309% | 3.148% | -0.02% |
30 year fixed VA | 3.222% | 3.419% | +0.03% |
15 year fixed VA | 3.032% | 3.381% | +0.16% |
5/1 ARM VA | 2.5% | 2.513% | -0.03% |
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. |
Should you lock a mortgage rate today?
So, the Federal Reserve’s decision yesterday to cut its COVID–19 stimulus program sooner than planned created only a small rise in average mortgage rates. I’d normally expect those rates to resume their gentle upward drift.
But the impact of the Fed’s announcement may be short–lived. That depends on the effects the Omicron vaccine has on the American economy. More on that below.
Because I’m financially cautious, my personal rate lock recommendations are:
- 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
>Related: 7 Tips to get the best refinance rate
Market data affecting today’s mortgage rates
Here’s a snapshot of the state of play this morning at about 9:50 a.m. (ET). The data, compared with roughly the same time yesterday, were:
- The yield on 10-year Treasury notes inched lower to 1.43% from 1.45%. (Good for mortgage rates.) More than any other market, mortgage rates normally tend to follow these particular Treasury bond yields
- Major stock indexes were mostly higher soon after opening. (Bad for mortgage rates.) When investors are buying shares they’re often selling bonds, which pushes prices of those down and increases yields and mortgage rates. The opposite may happen when indexes are lower. But this is an imperfect relationship
- Oil prices rose to $71.35 from $69.82 a barrel. (Bad for mortgage rates*.) Energy prices play a large role in creating inflation and also point to future economic activity
- Gold prices increased to $1,791 from $1,766 an ounce. (Good for mortgage rates*.) In general, it is better for rates when gold rises, and worse when gold falls. Gold tends to rise when investors worry about the economy. And worried investors tend to push rates lower
- CNN Business Fear & Greed index – Unavailable at the time of publication
*A change of less than $20 on gold prices or 40 cents on oil ones is a fraction of 1%. So we only count meaningful differences as good or bad for mortgage rates.
Caveats about markets and rates
Before the pandemic and the Federal Reserve’s interventions in the mortgage market, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.
So use markets only as a rough guide. Because they have to be exceptionally strong or weak to rely on them. But, with that caveat, mortgage rates today might hold steady or nearly steady. However, be aware that “intraday swings” (when rates change direction during the day) are a common feature right now.
Find your lowest rate. Start here (Dec 17th, 2021)
Important notes on today’s mortgage rates
Here are some things you need to know:
- Typically, mortgage rates go up when the economy’s doing well and down when it’s in trouble. But there are exceptions. Read ‘How mortgage rates are determined and why you should care
- Only “top–tier” borrowers (with stellar credit scores, big down payments and very healthy finances) get the ultralow mortgage rates you’ll see advertised
- Lenders vary. Yours may or may not follow the crowd when it comes to daily rate movements – though they all usually follow the wider trend over time
- When daily rate changes are small, some lenders will adjust closing costs and leave their rate cards the same
- Refinance rates are typically close to those for purchases. And a recent regulatory change has narrowed a gap that previously existed
So a lot is going on here. And nobody can claim to know with certainty what’s going to happen to mortgage rates in coming hours, days, weeks or months.
Are mortgage and refinance rates rising or falling?
Omicron
I follow a lot of European news coverage. And, there, the new Omicron variant of COVID–19 tends to dominate the media. I’m very surprised that the same doesn’t yet apply here in America.
In Europe, Omicron is tearing through countries, forcing governments to implement strict new measures intended to slow its spread. Take the UK as an example. Yesterday, it recorded 78,610 new cases in the previous 24 hours, according to The New York Times (paywall) citing UK government figures. That was the worst ever tally for the nation by some margin.
And the UK has a population that’s roughly 20% of America’s. So, if we saw similar infection rates, we’d be looking at nearly 400,000 new cases each day.
Worse, on Tuesday, the British government’s chief medical adviser told legislators that the Omicron infection rate could be running at 1 million new cases a day in that country by the end of this month, according to The Guardian.
Omicron and mortgage rates
Now, it’s true that we’re not yet sure how medically harmful Omicron is compared with the Delta and earlier variants. And some think it may lead to significantly fewer hospitalizations and deaths per 100,000 cases.
However, if even a tiny percentage of infections lead to serious consequences, that could result in health resources being overwhelmed. A small proportion of an enormous number is still a big number. That’s why many European governments are reacting so sharply.
If Omicron ravages the US in the way it is affecting much of Europe, that would almost certainly inflict significant economic damage. And who thinks that won’t happen? On Tuesday, The Washington Post ran the headline, “Omicron spreading rapidly in U.S. and could bring punishing wave as soon as January, CDC warns.”
Such a disaster is highly likely to bring lower mortgage rates, regardless of what the Fed or anyone else says or does. But we’re not there yet.
For more background, read Saturday’s weekend edition of this daily report.
Recently – updated today
Over much of 2020, the overall trend for mortgage rates was clearly downward. And a new, weekly all–time low was set on 16 occasions last year, according to Freddie Mac.
The most recent weekly record low occurred on Jan. 7, when it stood at 2.65% for 30–year fixed–rate mortgages.
Since then, the picture has been mixed with extended periods of rises and falls. Unfortunately, since September, the rises have grown more pronounced, though not consistently so.
Freddie’s Dec. 16 report puts that weekly average for 30–year, fixed–rate mortgages at 3.12% (with 0.6 fees and points), slightly up from the previous week’s 3.10%.
Expert mortgage rate forecasts
Looking further ahead, Fannie Mae, Freddie Mac and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.
And here are their current rate forecasts for the remaining, current quarter of 2021 (Q4/21) and the first three quarters of 2022 (Q1/22, Q2/22 and Q3/22).
The numbers in the table below are for 30–year, fixed–rate mortgages. Fannie’s were published on Nov. 18 and the MBA’s on Nov. 22.
Freddie’s were released on Oct. 15. It now updates its forecasts only quarterly. So we may not get another from it until January.
Forecaster | Q4/21 | Q1/22 | Q2/22 | Q3/22 |
Fannie Mae | 3.1% | 3.2% | 3.3% | 3.3% |
Freddie Mac | 3.2% | 3.4% | 3.5% | 3.6% |
MBA | 3.1% | 3.3% | 3.5% | 3.7% |
However, given so many unknowables, the whole current crop of forecasts may be even more speculative than usual.
And none of these forecasters had any idea that Omicron might entirely change the models on which they’re based.
Find your lowest rate today
Some lenders have been spooked by the pandemic. And they’re restricting their offerings to just the most vanilla–flavored mortgages and refinances.
But others remain brave. And you can still probably find the cash–out refinance, investment mortgage or jumbo loan you want. You just have to shop around more widely.
But, of course, you should be comparison shopping widely, no matter what sort of mortgage you want. As federal regulator the Consumer Financial Protection Bureau says:
Shopping around for your mortgage has the potential to lead to real savings. It may not sound like much, but saving even a quarter of a point in interest on your mortgage saves you thousands of dollars over the life of your loan.
Show me today’s rates (Dec 17th, 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 end result is a good snapshot of daily rates and how they change over time.
The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.
levofloxacin 500mg sale buy levofloxacin
order dutasteride sale zofran 4mg ca order ondansetron 8mg without prescription
spironolactone price generic valtrex fluconazole 100mg brand
ampicillin 250mg for sale oral erythromycin 250mg erythromycin 250mg canada
fildena 100mg pills fildena medication robaxin online buy
sildenafil for sale online sildenafil 50mg sale estrace 1mg oral
order lamotrigine 50mg pill retin gel brand tretinoin cream cheap
brand tadalafil avana canada order generic diclofenac
buy accutane generic order amoxil without prescription zithromax us
cheap indomethacin order amoxicillin 250mg sale amoxicillin 250mg ca
cost cialis 5mg cialis on sale viagra buy online
vrai tadalafil 10mg prix acheter 100mg viagra sildenafil 50mg pour homme
buy generic prednisone 20mg deltasone order sildenafil 100mg pills
tadalafil kaufen generika original sildenafil 50mg rezeptfrei sicher kaufen sildenafil 200mg kaufen ohne rezept
isotretinoin 10mg us buy isotretinoin 20mg generic ivermectin 12 mg tablet
order doxycycline 200mg pill order doxycycline 200mg generic lasix canada
buy altace generic astelin 10 ml generic buy generic azelastine 10 ml
order catapres 0.1mg for sale order meclizine 25mg pill oral tiotropium bromide 9mcg
buspirone 10mg tablet buspar for sale online buy generic ditropan
hytrin tablet buy hytrin 1mg generic sulfasalazine 500 mg oral
brand fosamax order motrin generic order pepcid 20mg
olmesartan 20mg over the counter order diamox 250 mg online buy generic acetazolamide 250mg
order prograf 5mg pills order tacrolimus 1mg ursodiol 150mg canada
buy isosorbide 40mg pills micardis 20mg canada buy telmisartan online
molnupiravir order molnunat 200mg cheap lansoprazole over the counter
order generic zoloft buy zoloft 50mg online cheap viagra 100mg without prescription
oral salbutamol 100mcg viagra over the counter sildenafil overnight
canadian cialis buy prozac pill oral sildenafil 50mg
cialis 5mg ca cheap phenazopyridine 200 mg symmetrel 100mg pill
revia 50 mg oral albendazole pills order aripiprazole pills
avlosulfon 100 mg generic allegra medication generic aceon 8mg
provera online order hydrochlorothiazide 25mg pill purchase periactin online
purchase luvox generic buy glipizide 10mg without prescription glipizide price
buy accutane 20mg generic isotretinoin 10mg cost deltasone 10mg over the counter
order piracetam without prescription buy viagra pills order viagra online
zithromax 500mg us neurontin 600mg us cost neurontin 600mg
tadalafil 5mg us tadalafil without a doctor’s prescription real viagra sites
order furosemide 40mg sale purchase doxycycline sale buy plaquenil online cheap
buy cialis 10mg for sale cialis overnight delivery order clomipramine 25mg online
sporanox 100mg tablet buy sporanox pill tinidazole 300mg sale
glucophage 500mg generic atorvastatin 20mg uk order tadalafil 40mg without prescription
olanzapine 10mg us bystolic us generic valsartan
norvasc 10mg brand buy generic amlodipine 5mg buy tadalafil for sale
clozapine order online decadron 0,0,5 mg over the counter decadron 0,5 mg generic
viagra oral order lisinopril 10mg online lisinopril cheap
zyvox 600mg uk jackpot party casino online blackjack for real money usa
omeprazole 20mg brand online gambling casinos slots casino games
lopressor 50mg canada brand levitra 10mg levitra over the counter
help me with my paper online slot machines real money poker sites
order vardenafil 10mg sale buy methylprednisolone tablets medrol 16 mg online
clomid 100mg pill order clomid 50mg for sale online blackjack best
tadalafil 10mg pill tadalafil for sale order sildenafil pill
order aristocort without prescription clarinex uk buy desloratadine online cheap
buy priligy without prescription buy misoprostol 200mcg online buy synthroid 150mcg generic
order cialis 40mg sale cialis 40mg sale order viagra without prescription
buy xenical 120mg pills order orlistat 120mg sale purchase acyclovir online cheap
buy tadalafil sale inderal 10mg drug plavix online
order zyloprim 300mg without prescription ezetimibe pills buy ezetimibe pill
cost methotrexate 2.5mg cheap reglan reglan 10mg over the counter
buy domperidone buy tetracycline 500mg sale oral cyclobenzaprine 15mg
oral losartan 25mg buy esomeprazole 40mg sale topamax 100mg drug
order baclofen without prescription baclofen 25mg cost toradol medication
buy imitrex 50mg online cheap sumatriptan 50mg cost purchase avodart without prescription
buy gloperba online free spins no deposit poker online game
ranitidine 300mg cheap order generic mobic 15mg celebrex 100mg canada
online black jack casino online games best online casino usa
order tamsulosin 0.2mg pills order tamsulosin 0.2mg sale aldactone 100mg over the counter
cost simvastatin 20mg cheap simvastatin 20mg proscar 5mg sale
cheap metronidazole 400mg metronidazole 400mg sale trimethoprim pills
fluconazole ca order viagra 50mg pills overnight delivery viagra
purchase keflex buy cleocin 150mg online cheap buy erythromycin 250mg sale
cialis 10mg canada viagra 50mg brand viagra order
viagra canada purchase cialis sale order cialis 10mg online
cefuroxime 250mg over the counter careprost tablet buy generic methocarbamol
crazy poker games online casino bonus buy tadalafil 5mg online
desyrel 100mg tablet aurogra 100mg canada order aurogra 100mg online
essay writing sites stromectol pill ivermectin for humans
viagra sildenafil 50mg order estrace sale lamictal 200mg usa
deltasone 40mg cheap brand amoxil order amoxil 500mg online
buy sildenafil online cialis 20 is cialis generic
best casino online play poker online cialis 5mg ca
casino gambling cheap provigil 100mg buy modafinil 200mg for sale
order lasix 100mg generic lasix drug buy generic plaquenil
prednisone online prazosin 1mg brand brand mebendazole 100mg
buy tretinoin cream avana online order avanafil 200mg pill
tadalafil 10mg sale order indocin 75mg generic indocin pill
lamisil 250mg uk generic trimox 250mg buy trimox for sale
buy naprosyn without prescription buy cefdinir generic lansoprazole pill
buy spiriva 9 mcg without prescription order hytrin 1mg generic purchase terazosin online
order albuterol 100mcg pills proventil 100 mcg price ciprofloxacin 1000mg brand
pioglitazone 15mg oral sildenafil 100mg cost viagra online buy
buy singulair 5mg generic singulair buy online viagra 50mg tablet
buy tadalafil 10mg sale Generic cialis usa online slots
cialis sale Best price for cialis order cialis 20mg online cheap
online casino real money online casinos usa online casinos for usa players
buy ivermectin 3 mg online order amantadine 100mg online cheap cheap avlosulfon
burton brunette blackjack games online casino with free signup bonus real money usa
world poker online online pharmacy usa cheap custom essays
buy altace 10mg altace online buy etoricoxib 60mg price
buy my essay buy azulfidine 500mg without prescription order sulfasalazine 500mg pill
brand doxycycline 200mg buy cleocin 300mg for sale purchase cleocin generic
olmesartan 10mg sale verapamil uk divalproex cheap
mesalamine price order asacol 800mg purchase irbesartan sale
purchase clobetasol generic buspar buy online order cordarone 100mg sale
Everything about medicine. Definitive journal of drugs and therapeutics.
sildenafil price
Cautions. Drug information.
order digoxin 250 mg generic buy lanoxin 250mg online cheap order molnunat 200 mg without prescription
oral amoxil 500mg cheap stromectol 12mg ivermectin 3 mg oral
buy dapoxetine 60mg for sale cost dapoxetine 90mg brand motilium 10mg
alendronate 35mg for sale nitrofurantoin online buy order ibuprofen without prescription
indocin 75mg cost order tamsulosin 0.4mg online purchase cenforce generic
pamelor cheap order pamelor 25 mg pills paroxetine 20mg us
doxycycline order online medrol usa buy methylprednisolone 8mg
famotidine 20mg cheap order pepcid 20mg cheap mirtazapine 15mg
buy ropinirole 2mg for sale labetalol 100 mg price oral trandate
tadalafil 10mg generic purchase tadalafil generic trimox 500mg brand
buy generic fenofibrate tricor 160mg uk viagra overnight delivery
esomeprazole 40mg for sale order biaxin 500mg online furosemide 100mg over the counter
cost tadalafil 10mg Cialis canadian cost sildenafil next day delivery usa
minocycline brand hytrin 5mg cost order hytrin 5mg pills
brand tadalafil 10mg natural pills for erectile dysfunction top erection pills
buy glucophage 500mg for sale order calan sale nolvadex 10mg over the counter
purchase modafinil sale purchase promethazine sale buy promethazine 25mg online
clomiphene buy online purchase clomid pill buy prednisolone 10mg pills
prednisone cost buy generic isotretinoin 20mg cheap amoxicillin for sale
order generic accutane 40mg prednisone tablet ampicillin 500mg without prescription
order sildenafil 100mg online cheap sildenafil 100mg brand order propecia 5mg online cheap
stromectol 2mg online purchase stromectol sale purchase deltasone sale
buy isotretinoin 20mg online cheap buy zithromax 500mg for sale buy zithromax 500mg sale
order ventolin sale augmentin brand brand clavulanate
prednisolone 5mg brand buy generic prednisolone 20mg order furosemide 100mg
продажа дебетовых карт
удостоверение прокурора купить
hey wassup i made $100 in this game so easy 슬롯 here’s the tips how to win in this game!~ ,
purchase doxycycline pills purchase zovirax pill zovirax 400mg over the counter
purchase oxybutynin without prescription oxybutynin 2.5mg cheap order trileptal pill
cefdinir for sale online buy omnicef pill order protonix pill
simvastatin 10mg sale generic zocor 20mg sildenafil viagra
dapsone 100 mg cheap asacol canada buy atenolol 100mg pill