Business is booming.

Mortgage And Refinance Rates Today, Dec. 23| Rates rising

126


Today’s mortgage and refinance rates

Average mortgage rates edged higher yesterday – yet again. But take a step back and the bigger picture shows that nobody’s lost or gained much over recent weeks regardless of whether they’ve floated or locked their rate.

However, mortgage rates today look set to move higher. That’s partly a result of encouraging news concerning the Omicron variant of COVID–19 from three different studies in countries where the virus has been spreading most quickly.

Seasons greetings and a happy holiday to all our readers! Markets are closed tomorrow for Christmas Eve. So we’ll see you again on Monday.

Find your lowest rate. Start here (Dec 24th, 2021)

Current mortgage and refinance rates

Program Mortgage Rate APR* Change
Conventional 30 year fixed 3.35% 3.373% +0.01%
Conventional 15 year fixed 2.496% 2.53% Unchanged
Conventional 20 year fixed 3.138% 3.167% +0.03%
Conventional 10 year fixed 2.631% 2.702% +0.02%
30 year fixed FHA 3.394% 4.161% +0.02%
15 year fixed FHA 2.593% 3.239% Unchanged
5/1 ARM FHA 2.295% 3.162% +0.04%
30 year fixed VA 2.986% 3.176% +0.03%
15 year fixed VA 2.916% 3.264% -0.02%
5/1 ARM VA 2.5% 2.533% +0.01%
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?

News from abroad suggests Omicron might tend to cause milder symptoms and reduce the likelihood of hospitalization and death for each infected person. And markets are likely to seize on that today, causing higher mortgage rates. Read on for details.

This means I would probably lock my mortgage rate soon if I were you.

And I’m likely to change again my personal rate lock recommendations sometime next week – assuming the news remains positive. But, for now, those remain:

  • FLOAT if closing in 7 days
  • FLOAT if closing in 15 days
  • FLOAT if closing in 30 days
  • FLOAT if closing in 45 days
  • FLOAT 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 climbed to 1.49% from 1.46%. (Bad for mortgage rates.) More than any other market, mortgage rates normally tend to follow these particular Treasury bond yields
  • Major stock indexes were 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 $72.95 from $71.18 a barrel. (Bad for mortgage rates*.) Energy prices play a large role in creating inflation and also point to future economic activity
  • Gold prices edged lower to $1,801 from $1,793 an ounce. (Neutral 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 – increased to 42 from 33 out of 100. (Bad for mortgage rates.) “Greedy” investors push bond prices down (and interest rates up) as they leave the bond market and move into stocks, while “fearful” investors do the opposite. So lower readings are better than higher ones

*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 rise. 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 24th, 2021)

Important notes on today’s mortgage rates

Here are some things you need to know:

  1. 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
  2. Only “top–tier” borrowers (with stellar credit scores, big down payments and very healthy finances) get the ultralow mortgage rates you’ll see advertised
  3. 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
  4. When daily rate changes are small, some lenders will adjust closing costs and leave their rate cards the same
  5. 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?

Today

There was some good domestic economic news yesterday concerning gross domestic product and consumer confidence. And there’s been a small avalanche of economic reports this morning. Those were mostly close to expectations. But inflation was running warmer than anticipated.

So it’s been no surprise that mortgage rates have been rising. Or, at least, it wouldn’t have been were Omicron not to have been posing such a large economic threat. Now, this morning, that threat is looking diminished.

But read on. Because it hasn’t entirely evaporated.

Omicron

Public health researchers in countries that have been among the first to experience Omicron have been racing to gauge the new variant’s effects. And three separate teams reached the wire at roughly the same time yesterday. And they all reached largely similar conclusions.

Briefly, if you catch Omicron, you’re likely to experience milder symptoms than with earlier variants. And you’re less likely to require hospitalization or to die.

Indeed, researchers in England suggested that your chances of requiring hospitalization are roughly 40% lower. Which is excellent news.

The problem is that we already know that Omicron is much more transmissible than earlier variants. And if a lot more people are getting infected, then the total number of hospitalizations will be sky–high, even after you allow for that 40% reduction in individual risk.

Meanwhile, things are complicated by differences in vaccination rates between countries. Most European countries have much higher rates than America, as I explained yesterday. And yesterday’s studies showed that a prior infection or vaccination gives much more protection against severe cases than would be enjoyed by someone with neither.

William Hanageof the Harvard T.H. Chan School of Public Health drew an analogy for The New York Times (paywall): “If you are unvaccinated and you have never been infected, it [Omicron] is a little less severe than Delta,” he said. “But that’s a bit like saying you’re being hit over the head with one hammer instead of two hammers. And the hammers are more likely to hit you now.”

Continuing uncertainty

The researchers behind all three of yesterday’s studies stress that their work is preliminary and based on limited data. And those studies are yet to be peer–reviewed. Nothing’s conclusive.

So we’re only beginning to get any focus on Omicron’s threats. And we may have much more to learn as the picture grows sharper.

Mortgage rates

Of course, my opinions about Omicron’s medical and economic threats are no more valid than yours or anyone else’s. And the only opinions that matter to mortgage rates are those of the investors who move key markets.

Judging from those investors’ actions so far this week, markets seem relaxed about Omicron and ready to shrug off its threats. And, presumably, yesterday’s research is likely to strengthen their confidence.

So I wouldn’t be surprised if mortgage rates continued higher, with just occasional falls in response to bad news. But how long the rises will last is anyone’s guess.

Because federal and state governments here may yet have to follow European countries’ examples and introduce some COVID–19 restrictions to protect health providers from overwhelming demand. And such measures – together with natural caution among consumers – would almost certainly harm our economic recovery.

If that happens, mortgage rates will likely head lower again. But will it happen? And when? At this point, your guess is as good as mine.

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. 23 report puts that weekly average for 30–year, fixed–rate mortgages at 3.05% (with 0.7 fees and points), down from the previous week’s 3.12%. But that won’t have taken into account all that week’s rises.

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 Dec. 20 and the MBA’s on Dec. 21.

Freddie’s were released on Oct. 15. It now updates its forecasts only quarterly. So we may not get another from it until January. And its figures are already looking stale.

Forecaster Q4/21 Q1/22 Q2/22 Q3/22
Fannie Mae 3.1% 3.1%  3.2% 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 24th, 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.



Source link

126 Comments
  1. Enxido says

    buy levofloxacin 250mg for sale levofloxacin 500mg canada

  2. Gamejo says

    buy dutasteride online cheap celebrex uk zofran 8mg over the counter

  3. Zlgauw says

    aldactone 100mg pills cheap propecia fluconazole usa

  4. Aamxsx says

    brand acillin buy erythromycin 250mg without prescription erythromycin pills

  5. Ibmqld says

    order fildena 50mg pills bimatoprost allergy nasal spray cheap robaxin 500mg

  6. Gyqbic says

    buy generic suhagra 100mg estradiol 1mg oral buy estradiol 2mg without prescription

  7. Cufuyv says

    buy lamictal 50mg online buy lamotrigine 200mg sale tretinoin gel cost

  8. Lpsgqp says

    tadalis 10mg cost tadalis ca cost voltaren 100mg

  9. Ctfkfy says

    order isotretinoin 10mg without prescription azithromycin 250mg cheap order zithromax 250mg generic

  10. Mzxtmv says

    order indomethacin 75mg generic indomethacin 50mg sale amoxicillin brand

  11. Ctfbcg says

    tadalafil online buy treating ed purchase viagra pills

  12. Kiuvwn says

    order anastrozole 1 mg for sale where to buy viagra in stores buy viagra 50mg generic

  13. Bgwvhs says

    tadalafil 20mg sans ordonnance en france acheter 100mg du sildenafil viagra 25mg pas cher

  14. Yaxuib says

    tadalafil generika rezeptfrei kaufen cialis 10mg kaufen sildenafil 50mg für männer

  15. Inqzvl says

    isotretinoin buy online order zithromax 250mg for sale ivermectin tablets

  16. Kfssvq says

    doxycycline 200mg uk order doxycycline 100mg online cheap furosemide 100mg oral

  17. Zycicg says

    altace 10mg uk cheap ramipril 10mg cost azelastine 10ml

  18. Bzsexm says

    catapres 0.1 mg oral minocin uk buy tiotropium bromide 9 mcg for sale

  19. Iwktma says

    buspar price dilantin 100mg pills oxybutynin pill

  20. Ocvwhy says

    order alendronate 70mg online cheap order panadol 500mg generic brand pepcid 20mg

  21. Lkbmjm says

    order benicar pill diamox 250mg us purchase diamox without prescription

  22. Abcllj says

    buy prograf 1mg sale urso order purchase ursodiol sale

  23. Myoemd says

    isosorbide online order isosorbide 40mg online cheap micardis online order

  24. Ahsllm says

    purchase bupropion pill order quetiapine sale order seroquel 100mg sale

  25. Vhlske says

    molnunat pills order naproxen 250mg pills prevacid cost

  26. Onlwgc says

    purchase sertraline pill kamagra cost buy viagra 100mg pills

  27. Ipnbml says

    imuran 100 mcg over the counter protonix 20mg ca sildenafil 100mg cost

  28. Droavx says

    buy tadalafil 20mg sale Buy cheap cialis online sildenafil 100mg for sale

  29. Amsdtd says

    oral tadalafil 20mg buy cialis 5mg sale amantadine 100mg oral

  30. Rvvcqm says

    buy naltrexone generic aripiprazole for sale aripiprazole 30mg brand

  31. Mtlxum says

    avlosulfon 100 mg brand avlosulfon price buy perindopril 4mg pills

  32. Pdqhyd says

    provigil 200mg cost buy modafinil 200mg generic topical ivermectin cost

  33. Dbxbwh says

    luvox pill order cymbalta 20mg sale buy glipizide 10mg for sale

  34. Dujica says

    order accutane isotretinoin 40mg cheap prednisone 5mg without prescription

  35. Ywqezm says

    piracetam generic sildenafil 100mg oral sildenafil online

  36. Mmhxdw says

    purchase zithromax pill prednisolone generic gabapentin cheap

  37. Usdmpf says

    real cialis pills viagra price buy viagra 100mg generic

  38. Zlmfjq says

    order generic furosemide 100mg oral plaquenil order plaquenil generic

  39. Jrmxgi says

    purchase cialis sale buy anafranil 25mg sale oral anafranil 25mg

  40. Fxmubx says

    chloroquine tablet olumiant 4mg price olumiant 4mg drug

  41. Goyzxn says

    metformin brand female cialis cvs cialis 20mg usa

  42. Zyanda says

    amlodipine us sildenafil 100mg pill tadalafil 10mg drug

  43. Reqtjg says

    buy clozapine 100mg generic order dexamethasone generic dexamethasone drug

  44. Ysmeiv says

    buy viagra 100mg without prescription sildenafil pills 200mg purchase lisinopril generic

  45. Bimcox says

    buy omeprazole without prescription brand omeprazole free spins no deposit canada

  46. Oxulyj says

    order metoprolol 50mg for sale order levitra order levitra pill

  47. Pvhppb says

    research paper assistance write papers for me roulette games

  48. Dqgeop says

    oral vardenafil 10mg fda methylprednisolone methylprednisolone 16 mg tablet

  49. Efllnr says

    my favorite writer essay sildenafil 100mg oral 50mg viagra

  50. Qvqums says

    order generic clomid 100mg order albuterol play roulette for free

  51. Ecezdx says

    buy tadalafil 5mg pill order generic cialis viagra pills 150mg

  52. Wuhmnd says

    triamcinolone 4mg generic triamcinolone over the counter order clarinex generic

  53. Vkpwle says

    priligy 30mg oral buy synthroid 75mcg pills cheap synthroid 100mcg

  54. Tgcmvp says

    order generic tadalafil 20mg viagra 50mg drug brand viagra 100mg

  55. Charlesunink says

    rate canadian pharmacies https://canadianpharmacy.icu/# my canadian pharmacy

  56. Fnkphz says

    orlistat 120mg us zovirax online order buy generic acyclovir

  57. Ojccgq says

    cialis 10mg uk order tadalafil plavix 75mg oral

  58. Ykbuce says

    zyloprim 100mg pill order allopurinol 100mg pill cost ezetimibe

  59. Vepswf says

    cheap methotrexate 10mg methotrexate price order metoclopramide 20mg pills

  60. Ziidef says

    motilium price order cyclobenzaprine online cheap order cyclobenzaprine 15mg generic

  61. Pysbxd says

    order losartan 50mg sale order topamax generic buy topiramate pill

  62. Zmlyyx says

    order baclofen 10mg online cheap buy toradol 10mg generic order toradol 10mg online cheap

  63. Daviddub says

    absolutely free dating site amature dating co

  64. Jvqfyn says

    purchase imitrex pill buy imitrex online cheap purchase avodart online

  65. MartinTweld says
  66. Daviddub says

    date free website dating free online

  67. Wbvuww says

    buy generic colchicine 0.5mg play casino real casino slot machine games

  68. MartinTweld says

    https://datingonline1st.shop/# online dating sites best

  69. Hfyand says

    zantac pills meloxicam 7.5mg us celebrex 100mg us

  70. FrankHer says

    over the counter medicine for strep throat what does over the counter mean

  71. DavidNaw says

    https://drugsoverthecounter.com/# apoquel over the counter substitute

  72. Ebxead says

    online blackjack spins website best casino online empire casino online

  73. FrankHer says

    over the counter steroid cream over the counter diet pills that work

  74. Tsfsyf says

    flomax for sale online spironolactone medication order aldactone 25mg generic

  75. DavidNaw says

    https://drugsoverthecounter.shop/# over the counter diuretics

  76. Mgdmzl says

    cheap tadalafil generic ciprofloxacin 500mg sale cipro 1000mg sale

  77. Iunpyt says

    buy simvastatin 20mg pills proscar 5mg usa proscar 5mg pill

  78. FrankHer says

    best over the counter cough medicine best over the counter medicine for sore throat

  79. Dzgvyo says

    flagyl 200mg drug generic metronidazole 200mg order bactrim pills

  80. FrankHer says

    over the counter yeast infection treatment over the counter medicine for strep throat

  81. Etnhzp says

    order fluconazole pill fluconazole for sale online viagra drug

  82. Dayrfi says

    buy keflex 500mg for sale buy cleocin 300mg without prescription erythromycin 500mg over the counter

  83. Pmulsz says

    tadalafil drug cialis next day delivery viagra 50mg

  84. Larrybix says

    econazole nitrate cream over the counter over the counter acne treatments

  85. Nauiab says

    sildenafil uk purchase sildenafil generic brand cialis 20mg

  86. BernieDraks says

    https://over-the-counter-drug.com/# over the counter health and wellness products

  87. Richardkag says

    best over the counter toenail fungus treatment over the counter pink eye drops

  88. Larrybix says

    over the counter essentials rightsourcerx over the counter

  89. Krosmu says

    purchase cefuroxime online buy robaxin 500mg without prescription methocarbamol tablet

  90. Ydgguo says

    casino online games for real money tadalafil 40mg cheap buy tadalafil 5mg online cheap

  91. Richardkag says

    phentermine over the counter wellcare over the counter ordering

  92. Larrybix says

    over the counter adderall over the counter pink eye drops

  93. Jbywjq says

    trazodone 100mg cost suhagra usa order aurogra 100mg generic

  94. Richardkag says

    is ivermectin over the counter antibiotics over the counter

  95. Larrybix says

    pills like viagra over the counter п»їover the counter anxiety medication

  96. Dajufs says

    writing a paper stromectol 12mg for sale buy ivermectin 12mg for humans

  97. ThomasDon says

    https://doxycycline.science/# odering doxycycline

  98. Npymwy says

    sildenafil for men over 50 purchase sildalis online cheap order lamotrigine 50mg pill

  99. Khxwrr says

    order deltasone pill accutane buy online amoxil online

  100. Jdaqgw says

    viagra 100mg over the counter buy tadalafil generic cialis 10mg pill

  101. ThomasDon says

    https://amoxil.science/# amoxicillin 500mg tablets price in india

  102. Mwhxrg says

    casino games online real money cialis on line buy tadalafil online

  103. Uvciuw says

    buy azithromycin 500mg sale purchase zithromax online cheap order gabapentin 600mg without prescription

  104. ThomasDon says
  105. Ycpdgb says

    casino real money stromectol 3mg pill order modafinil 200mg generic

  106. Zacharylax says

    Drugs information sheet. Read here.
    https://stromectolst.com/# ivermectin 9 mg
    Medscape Drugs & Diseases. earch our drug database.

  107. Jamesadume says

    What side effects can this medication cause? Some trends of drugs.
    buy ivermectin pills
    Definitive journal of drugs and therapeutics. Everything about medicine.

  108. KevinLal says

    Read here. Long-Term Effects.
    https://stromectolst.com/# ivermectin uk coronavirus
    Prescription Drug Information, Interactions & Side. Drugs information sheet.

  109. RonaldAcrow says

    Actual trends of drug. safe and effective drugs are available.
    ivermectin lice oral
    Cautions. drug information and news for professionals and consumers.

  110. RonaldAcrow says

    Actual trends of drug. Everything what you want to know about pills.
    ivermectin 3mg tablets price
    Best and news about drug. Everything information about medication.

  111. KevinLal says

    Drugs information sheet. drug information and news for professionals and consumers.
    ivermectin buy australia
    Get information now. safe and effective drugs are available.

  112. Cpqipr says

    buy sildenafil 100mg online cheap purchase nolvadex pills budesonide pills

  113. Eenvst says

    order prednisone 5mg without prescription order mebendazole pills purchase mebendazole generic

  114. Zacharylax says

    Get here. Some are medicines that help people when doctors prescribe.
    ivermectin 1% cream generic
    Read information now. Drug information.

  115. KevinLal says

    Medscape Drugs & Diseases. Everything information about medication.
    stromectol 6 mg tablet
    Some trends of drugs. Best and news about drug.

  116. RonaldAcrow says

    Cautions. Get warning information here.
    stromectol medicine
    Everything what you want to know about pills. Read now.

  117. KevinLal says

    Generic Name. Everything about medicine.
    ivermectin oral
    Medscape Drugs & Diseases. What side effects can this medication cause?

  118. Zacharylax says

    Read here. Top 100 Searched Drugs.
    ivermectin oral
    Definitive journal of drugs and therapeutics. Best and news about drug.

  119. Nznsdq says

    retin cream drug tadalafil for sale online avanafil 200mg drug

  120. JesselIx says

    Drug information. Read now.
    ivermectin lice oral
    What side effects can this medication cause? drug information and news for professionals and consumers.

  121. RonaldAcrow says

    Drug information. Comprehensive side effect and adverse reaction information.
    https://stromectolst.com/# generic stromectol
    drug information and news for professionals and consumers. п»їMedicament prescribing information.

  122. KevinLal says

    safe and effective drugs are available. Everything information about medication.
    ivermectin buy nz
    safe and effective drugs are available. Top 100 Searched Drugs.

  123. KevinLal says

    Read now. Definitive journal of drugs and therapeutics.
    https://stromectolst.com/# ivermectin lotion
    Get warning information here. Cautions.

  124. Lhqkzk says

    tadacip brand voltaren sale buy indocin 50mg

  125. Zacharylax says

    drug information and news for professionals and consumers. Read information now.
    https://stromectolst.com/# stromectol nz
    Read information now. Comprehensive side effect and adverse reaction information.

  126. RonaldAcrow says

    Get here. Commonly Used Drugs Charts.
    stromectol
    Get here. Everything what you want to know about pills.

Leave A Reply

Your email address will not be published.