Today’s Mortgage and Refinance Rate: November 4, 2021 – Texans NFL Official Pro Shop
For about a month and a half, fixed mortgage rates have been rising slowly but steadily, but they remain relatively low. For example, 30-year rates hold around 3.5% and 15-year rates hold around 2.5%.
Even though fixed rates are on the rise, Freddie Mac data shows that the rates are still significantly lower than those of the last five years:
You can probably expect mortgage rates to stay low for the remainder of 2021, but we could see them rise in 2022 if the U.S. economy improves.
a adjustable rate mortgage keeps your rate the same for a predetermined amount of time, then changes it periodically. An ARM 5/1 locks in your rate for the first five years, then the rate fluctuates once a year. It’s a riskier approach these days because ARM rates start higher than fixed rates, and you risk your rate going up later.
If you limit your rate purchases to about a month, the credit bureaus will understand that you are looking for a home and should not hold each individual claim against you.