Today's 30-year mortgage rates dip for first time in 7 days | July 9, 2021

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Fox Business 09 July, 2021 - 08:09am 11 views

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Based on data compiled by Credible, 30-year mortgage rates dropped, 20-year rates rose, and 15-year and 10-year rates remained unchanged since yesterday.

What This Means: After holding at 2.875% for six consecutive days, 30-year mortgage rates dropped back down to 2.750% today. Rates for a 20-year term dropped to a near five-month low of 2.500% earlier in the week, but rose to 2.625% today. Meanwhile, 15- and 10-year rates remained unchanged for two days in a row. With rates across all terms remaining at historic lows, those looking to buy a home could reap interest savings.

To find the best mortgage rate, start by using Credible, which can show you current mortgage and refinance rates:

Browse rates from multiple lenders so you can make an informed decision about your home loan.

After rising to 2.990% for two days earlier in the week, 30-year mortgage refinance rates dropped back down to 2.750% today. Rates for a 20-year term have held steady at 2.750% for two days in a row. Homeowners looking to refinance could find a particular bargain with a 15-year term: 15-year rates fell to 2.000% for the first time in 16 days. Meanwhile, 10-year rates continue to fluctuate but could also be a bargain for homeowners who want to save on interest and can swing a higher monthly payment. If you’re considering refinancing an existing home, check out what refinance rates look like:

If you want to get the lowest possible monthly mortgage payment, taking the following steps can help you secure a lower rate on your home loan:

Despite day-to-day fluctuations, mortgage purchase rates continue to represent a bargain for homebuyers. The average interest rate across all terms has held at 2.375% for two consecutive days.

The current interest rate for a 30-year fixed-rate mortgage is 2.750%. This is down from yesterday. Thirty years is the most common repayment term for mortgages because 30-year mortgages typically give you a lower monthly payment. But they also typically come with higher interest rates, meaning you’ll ultimately pay more in interest over the life of the loan.

The current interest rate for a 20-year fixed-rate mortgage is 2.625%. This is up from yesterday. Shortening your repayment term by just 10 years can mean you’ll get a lower interest rate — and pay less in total interest over the life of the loan.

The current interest rate for a 15-year fixed-rate mortgage is 2.125%. This is the same as yesterday. Fifteen-year mortgages are the second most-common mortgage term. A 15-year mortgage may help you get a lower rate than a 30-year term — and pay less interest over the life of the loan — while keeping monthly payments manageable. 

The current interest rate for a 10-year fixed-rate mortgage is 2.000%. This is the same as yesterday. Although less common than 30-year and 15-year mortgages, a 10-year fixed rate mortgage typically gives you lower interest rates and lifetime interest costs, but a higher monthly mortgage payment.

Today, mortgage rates are down compared to this time last week.

Here are the predictions for how 30-year fixed rates will look for the rest of the year:

Actual average 30-year fixed rate in Q1 (January to March): 2.877%

A home insurance policy can help cover unexpected costs you may incur during home ownership, such as structural damage and destruction or stolen personal property. Coverage can vary widely among lenders, so it’s wise to shop around and compare policy quotes.

Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.

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Fixed rates for private student loans drop, while variable rates rise

Fox Business 09 July, 2021 - 06:00pm

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The average private student loan rates for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out student loans went in different directions during the week of June 28, 2021. Rates for fixed-rate loans with 10-year repayment terms fell, while five-year variable rates rose.

Through Credible, you can compare private student loan rates from lenders without affecting your credit score.

Private student loan interest rates for the week of June 28, 2021, are comparable to rates from the same time last year. Throughout 2021, private student loan rates have remained relatively stable, marking only minor fluctuations week to week. 

You should always exhaust federal student loan options first before turning to private student loans to cover any funding gaps. Private lenders such as banks, credit unions and online lenders provide private student loans. You can use private loans to pay for education costs and living expenses, which might not be covered by your federal education loans. 

Interest rates and terms on private student loans can vary depending on your financial situation, credit history and the lender you choose.

Take a look at our partner lenders’ rates in the table below.

Congress sets federal student loan interest rates each year. These fixed interest rates depend on the type of federal loan you take out, your dependency status and year in school.

Private student loan interest rates can be fixed or variable and depend on your credit, repayment term and other factors. As a general rule, the better your credit score, the lower your interest rate is likely to be.  

You can compare rates from multiple student loan lenders using Credible.

An interest rate is a percentage of the loan periodically tacked onto your balance — essentially the cost of borrowing money. Interest is one way lenders can make money from loans. Your monthly payment often pays interest first, with the rest going to the amount you initially borrowed (the principal). 

Getting a low interest rate could help you save money over the life of the loan and pay off your debt faster.

Here’s the difference between a fixed and variable rate.

Comparison shopping for private student loan rates is easy when you use Credible.

Using a student loan interest calculator will help you estimate your monthly payments and the total amount you’ll owe over the life of your federal or private student loans.

Once you enter your information, you’ll be able to see what your estimated monthly payment will be, the total you’ll pay in interest over the life of the loan and the total amount you’ll pay back. 

Credible is a multi-lender marketplace that empowers consumers to discover financial products that are the best fit for their unique circumstances. Credible’s integrations with leading lenders and credit bureaus allow consumers to quickly compare accurate, personalized loan options ― without putting their personal information at risk or affecting their credit score. The Credible marketplace provides an unrivaled customer experience, as reflected by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

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Mortgage lenders see increased demand for new home purchases, Fannie Mae reports

Fox Business 09 July, 2021 - 06:00pm

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Despite low housing inventory and record-high home values, enthusiasm from home buyers remains high. Mortgage lenders reported increased demand for home purchase loans in the past three months, according to a report by Fannie Mae released last month. 

Meanwhile, the demand for mortgage refinancing has fallen significantly since its boom in 2020 — even though historically low refinancing rates and skyrocketing home equity make it a good time to refinance a mortgage. 

Whether you're shopping for a new home or you just want to save money on your current home loan, you can begin the mortgage process on Credible. Shopping around for the best rate on a fixed-rate mortgage can save you thousands over the life of your home mortgage loan. 

Homebuyers face plenty of challenges in today's real estate market, thanks to high demand and low inventory. But demand in the housing market should cool off within the next few months, experts say, although home prices will likely remain high. Plus, current mortgage rates are holding steady below 3%, so it's smart to take out a mortgage while rates are low.

Here are some tips for buyers ahead of an influx in housing inventory:

Mortgage lenders have reported decreased demand for mortgage refinancing, but it's not due to rising rates. Today's refinance rates remain near historic lows, hovering well under 3% for all loan lengths, based on data from Credible.

In addition to low refinance rates, homeowners can take advantage of rising home equity. The average homeowner gained more than $33,000 in home equity over the past year, according to a recent consumer survey from CoreLogic. This could make it possible to get a cash-out refinance for home improvements while still securing a record-low interest rate, which will save you money over time. 

You can compare rates across multiple lenders by filling out a single form on Credible. This can simplify the mortgage experience so you can achieve your financial goals. 

The Fannie Mae report also found that the net share of lenders who have eased their credit standards has grown since last year, meaning that it may be easier for fair-credit buyers or homeowners to qualify for a mortgage or refinance product.

If you've been considering purchasing a home or refinancing your mortgage, but you've been holding off due to concerns with your credit score, consider mortgage prequalification. This allows you to see your potential terms, such as the loan amount and interest rate. Getting prequalified for a home mortgage doesn't affect your credit score, and it's free. 

You can see if you're a good candidate for a home mortgage loan or mortgage refinance on Credible's online loan marketplace. While you're there, estimate your monthly mortgage payments with a mortgage calculator to gauge home affordability. 

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Today's Best Mortgage Rates - July 9, 2021

Investopedia 09 July, 2021 - 06:00pm

Thirty-year fixed-rate mortgages registered another substantial decline Thursday, dropping a cumulative 15 basis points vs. a week ago. The current average of 3.00% sits far below the 3.24% spike triggered by Fed news on June 16.

The 15-year and 30-year Jumbo fixed-rate averages also continued their declines, ending Thursday at 2.29% and 3.16%, respectively. The averages for 30-year, 15-year, and 30-year Jumbo fixed mortgages are all now at their lowest rate of the last 60 days.

Refinance loans averaged 18 to 28 basis points higher than new purchase rates on fixed-rate loans, while 5/1 ARM refinancing currently carries a premium over new purchase rates of 60 points.

The rates you see here generally won’t compare directly with teaser rates you see advertised online, since those rates are cherry-picked as the most attractive. They may involve paying points in advance, or may be selected based on a hypothetical borrower with an ultra-high credit score or taking a smaller-than-typical loan given the value of the home.

The lowest mortgage rates available vary depending on the state where originations occur. Mortgage rates can be influenced by state-level variations in credit score, average mortgage loan term, and size, as well as individual lenders' varying risk management strategies.

Mortgage rates are determined by a complex interaction of macroeconomic and industry factors, such as the level and direction of the bond market, including 10-year Treasury yields; the Federal Reserve's current monetary policy, especially as it relates to funding government-backed mortgages; and competition between lenders and across loan types. Because fluctuations can be caused by any number of these at once, it's generally difficult to attribute the change to any one factor.

Macroeconomic factors have kept the mortgage market relatively low for the last two months. In particular, the Federal Reserve has been buying billions of dollars of bonds and continues to do so. This bond-buying policy (and not the more publicized federal funds rate) is a major influencer on mortgage rates.

But Fed policy could soon change. The Fed's rate and policy committee, called the Federal Open Market Committee (FOMC), meets every 6-8 weeks, and concluded their latest meeting June 16. Though they did not yet announce any changes to their bond-buying plans, they did indicate that a shift could come over the not-too-distant horizon. This forecasting language, without any actual change, is enough to move mortgage rates up.

The national averages cited above were calculated based on the lowest rate offered by more than 200 of the country's top lenders, assuming a loan-to-value ratio (LTV) of 80% and an applicant with a FICO credit score in the 700-760 range. The resulting rates are representative of what customers should expect to see when receiving actual quotes from lenders based on their qualifications, which may vary from advertised teaser rates.

For our map of the best state rates, the lowest rate currently offered by a surveyed lender in that state is listed, assuming the same parameters of an 80% LTV and a credit score between 700-760.

Mortgage rates for July 9, 2021: Rates drop

CNET 09 July, 2021 - 12:08pm

For a 30-year, fixed-rate mortgage, the average rate you'll pay is 3.06%, which is a decrease of 2 basis points compared to one week ago. (A basis point is equivalent to 0.01%.) Thirty-year fixed mortgages are the most common loan term. A 30-year fixed rate mortgage will usually have a smaller monthly payment than a 15-year one -- but often a higher interest rate. Although you'll pay more interest over time -- you're paying off your loan over a longer timeframe -- if you're looking for a lower monthly payment, a 30-year fixed mortgage may be a good option.

The average rate for a 15-year, fixed mortgage is 2.37%, which is a decrease of 2 basis points compared to a week ago. You'll definitely have a larger monthly payment with a 15-year fixed mortgage compared to a 30-year fixed mortgage, even if the interest rate and loan amount are the same. However, as long as you can afford the monthly payments, there are several benefits to a 15-year loan. These include usually being able to get a lower interest rate, paying off your mortgage sooner, and paying less total interest in the long run.

A 5/1 ARM has an average rate of 3.07%, a downtick of 1 basis point from seven days ago. With an ARM mortgage, you'll typically get a lower interest rate than a 30-year fixed mortgage for the first five years. However, since the rate shifts with the market rate, you might end up paying more after that time, as described in the terms of your loan. Because of this, an adjustable-rate mortgage might be a good option if you plan to sell or refinance your house before the rate changes. If not, shifts in the market could significantly increase your interest rate.

We use information collected by Bankrate, which is owned by the same parent company as CNET, to track changes in these daily rates. This table summarizes the average rates offered by lenders nationwide:

Rates accurate as of July 9, 2021.

You can get a personalized mortgage rate by reaching out to your local mortgage broker or using an online calculator. In order to find the best home mortgage, you'll need to consider your goals and overall financial situation. Things that affect what mortgage rate you might get include: your credit score, down payment, loan-to-value ratio and your debt-to-income ratio. Having a good credit score, a larger down payment, a low DTI, a low LTV or any combination of those factors can help you get a lower interest rate. The interest rate isn't the only factor that affects the cost of your home -- be sure to also consider additional factors such as fees, closing costs, taxes and discount points. Be sure to speak with a variety of lenders -- for example, local and national banks, credit unions and online lenders -- and comparison-shop to find the best mortgage loan for you.

One important factor to consider when choosing a mortgage is the loan term, or payment schedule. The most common mortgage terms are 15 years and 30 years, although 10-, 20- and 40-year mortgages also exist. Mortgages are further divided into fixed-rate and adjustable-rate mortgages. The interest rates in a fixed-rate mortgage are fixed for the duration of the loan. Unlike a fixed-rate mortgage, the interest rates for an adjustable-rate mortgage are only the same for a certain amount of time (typically five, seven or 10 years). After that, the rate fluctuates annually based on the market rate.

One factor to consider when choosing between a fixed-rate and adjustable-rate mortgage is the length of time you plan on living in your house. If you plan on living long-term in a new house, fixed-rate mortgages may be the better option. Fixed-rate mortgages offer greater stability over time in comparison to adjustable-rate mortgages, but adjustable-rate mortgages might offer lower interest rates upfront. If you aren't planning to keep your new house for more than three to 10 years, though, an adjustable-rate mortgage may give you a better deal. The best loan term all depends on your own situation and goals, so make sure to take into consideration what's important to you when choosing a mortgage.

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Today's mortgage refinance rates close week on a downward trend | July 9, 2021

Fox Business 09 July, 2021 - 08:21am

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Based on data compiled by Credible, current mortgage refinance rates are mostly down compared to yesterday’s, with the exception of 20-year rates, which remain unchanged. 

After rising to 2.990% for two days earlier in the week, 30-year mortgage refinance rates dropped back down to 2.750% today. Rates for a 20-year term have held steady at 2.750% for two days in a row. Homeowners looking to refinance could find a particular bargain with a 15-year term: 15-year rates fell to 2.000% for the first time in 16 days. Meanwhile, 10-year rates continue to fluctuate but could also be a bargain for homeowners who want to save on interest and can swing a higher monthly payment.

If you’re thinking of refinancing your home mortgage, consider using Credible. Whether you're interested in saving money on your monthly mortgage payments or considering a cash-out refinance, Credible's free online tool will let you compare rates from multiple mortgage lenders. You can see prequalified rates in as little as three minutes.

The current rate for a 30-year fixed-rate refinance is 2.750%. This is down from yesterday.

The current rate for a 20-year fixed-rate refinance is 2.750%. This is the same as yesterday.

The current rate for a 15-year fixed-rate refinance is 2.000%. This is down from yesterday.

The current rate for a 10-year fixed-rate refinance is 2.125%. This is down from yesterday.

You can explore your mortgage refinance options in minutes by visiting Credible to compare rates and lenders. Check out Credible and get prequalified today.

Today, mortgage refinance rates have fallen compared to this time last week.

If you think refinancing is the right move, consider using Credible. You can use Credible's free online tool to easily compare multiple mortgage refinance lenders and see prequalified rates in as little as three minutes.

Current refinance rates, like mortgage interest rates in general, are affected by many economic factors, like unemployment numbers and inflation. But your personal financial history will also determine the rates you’re offered when refinancing your mortgage.

If you’re interested in refinancing your mortgage, improving your credit score and paying down any other debt could secure you a lower rate. It’s also a good idea to compare rates from different lenders if you're hoping to refinance, so you can find the best rate for your situation. 

Borrowers can save $1,500 on average over the life of their loan by shopping for just one additional rate quote, and an average of $3,000 by comparing five rate quotes, according to research from Freddie Mac. Credible can help you compare multiple lenders at once in just a few minutes. 

If you decide to refinance your mortgage, be sure to shop around and compare rates from multiple mortgage lenders. You can do this easily with Credible’s free online tool and see your prequalified rates in only three minutes.

Credible is also partnered with a home insurance broker. If you're looking for a better rate on home insurance and are considering switching providers, consider using an online broker. You can compare quotes from top-rated insurance carriers in your area — it's fast, easy and the whole process can be completed entirely online.

If you’re seeking lower monthly payments on an existing home, Credible can help you keep an eye on current mortgage rates and find the right loan for your financial goals.

Before you dive into mortgage refinancing, be sure to check out these loan rates, which you can compare by annual percentage rate (APR,) as well as interest rate:

Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.

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Compare current refinance rates

Business Insider 09 July, 2021 - 12:00am

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When you refinance into a 15-year mortgage, you'll pay off your new mortgage over 15 years. A 15-year refinance rate is lower than a 30-year refinance rate, but your monthly payments will be higher because you're paying off the same mortgage principal in half the time.

A 30-year refinanced mortgage has a higher rate than a 15-year refinanced mortgage, but your monthly payments will be lower. Refinancing into a 30-year term is a good way to lower your monthly payments, but it will take you longer to pay off your mortgage.

Average refinance rates are lower now than they have been since the beginning of 2018. Mortgage and refinance rates tend to be low when the economy is struggling, so low rates are a response to the long-term effects of the COVID-19 pandemic.

As with your initial mortgage, you'll pay closing costs when you refinance. According to the Federal Reserve, refinance closing costs are usually 3% to 6% of your remaining mortgage principal. This comes to $3,000 to $6,000 for every $100,000 you borrow.

A report by financial tech company ClosingCorp states that the average refinance closing costs in 2019 were $5,779. This is only $30 more than the average closing costs on an original mortgage in 2019.

Your closing costs partly depend on where you live and the value of your home. You could pay less in closing costs in Indiana, where home values and property taxes are fairly low, than in Connecticut, where values and taxes are relatively high.

Closing costs also depend on your lender. For example, one lender may charge a smaller fee for your title search than another. Some lenders charge lender fees, also known as "junk fees." These are fees that go directly to the lender, such as application and underwriting fees. Not all companies charge junk fees, though, so your closing costs will go down if you use a lender that skips these fees.

When you consider the cost to refinance your mortgage, consider whether the financial tradeoff will be worth it. You may cut your monthly payments by hundreds of dollars, or lock in a significantly lower rate that will save you thousands in the long run. In these cases, you may decide you're comfortable paying closing costs.

When you refinance a mortgage, you replace your original mortgage with a new one, which has a different interest rate and term length. As a result, your monthly payment amount will also change. 

You'll probably choose your top three or four favorite mortgage lenders , then compare rates and fees to find the best deal. An appraiser will come to your home to determine the house's value. Then you'll close on the new mortgage, which will be a similar process as the first time around.

Mortgage refinance rates are typically a little higher than purchase rates.

It depends on the lender, but most companies want you to have at least 20% equity to refinance a conventional mortgage or to get a cash-out refinance. You should be able to refinance with less if you have an FHA, VA, or USDA mortgage

Mortgage Application Volume Hits Lowest Level Since Before the Pandemic

Yahoo Finance 08 July, 2021 - 12:05pm

Falling mortgage rates haven’t driven demand. Refinance applications dropped 2% for the week, down 8% from a year earlier. Refinance applications have dipped below 2020 levels for the past four months, according to MBA data and as reported by CNBC. Home purchase applications fell 1% for the week, down 14% from a year ago. 

The average 30-year fixed-rate mortgage with conforming loan balances of $548,250 or less dropped 5 basis points to 3.15, with points decreasing to 0.38 from 0.39 (including the origination fee) for loans with a 20% down payment, noted CNBC. 

MBA data also showed that the refinance share of mortgage activity fell to 61.6% of total applications, down from 61.9% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 3.3% of total applications.

“Swift home-price growth across much of the country, driven by insufficient housing supply, is weighing on the purchase market and is pushing average loan amounts higher,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

This article originally appeared on GOBankingRates.com: Mortgage Application Volume Hits Lowest Level Since Before the Pandemic

Content provided by Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. www.nmlsconsumeraccess.org Over the past week, mortgage rates have remained largely unchanged for refinancing, while those for home purchase are also mostly unchanged. Homeowners and buyers should take advantage of reduced home mortgage rates, knowing that the Federal reserve is not raising rates and investors are not pushing rates higher. Current mortgage refinance rates for July 8, 2021 Today,

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Mortgage applications sink to pre-pandemic levels: Why this might be good news for buyers

Fox Business 08 July, 2021 - 08:35am

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Mortgage activity sank last week to its lowest level since the beginning of 2020, according to a recent survey. This comes at a time when the housing market typically reaches its annual peak.

The findings from the Mortgage Bankers Association's (MBA) weekly survey come as mortgage interest rates are historically low, but limited housing inventory and high home values make it difficult to purchase a home. As homebuying demand falls, though, it might signal a shift to a cooler housing market that's more friendly to buyers.

Even mortgage refinancing applications continue to drop, despite the fact that refinancing rates remain near record lows. 

If you've been considering buying a home or refinancing your mortgage, it's smart to act while rates are still low. Read on to learn more about the MBA's findings, and visit Credible to compare mortgage rates without affecting your credit score. 

The MBA's home purchase index is 14% lower than it was one year ago, suggesting a significant decrease in homebuying activity despite the fact that mortgage rates are still hovering near record lows. This is because the demand from homebuyers is outpacing the available inventory, causing home values to skyrocket and making the market more competitive across the spectrum. 

First-time homebuyers who are looking at the lower end of the home value spectrum are facing the most challenges, according to Joel Kan, MBA's associate vice president of economic and industry forecasting. While inventory is scarce across the board, it's most limited for buyers with lower price ranges. 

You’re not seeing a lot of activity on the lower side of the market. The lower end of the market is also where inventory’s the highest, that’s where it’s most competitive for buyers. That’s also where you’ll see the most home price growth, and that’s holding back a bit of purchase activity.  

Not even low mortgage rates can prompt a higher demand for mortgages, simply because the inventory just isn't available. But, there's good news: Experts expect more inventory to flood the market this fall, as lumber and steel prices level out as the supply chain continues to recover post-pandemic.

But today's competitive mortgage rates won't last forever. The MBA estimates that average mortgage rates are expected to rise to 3.5% by the end of the year. Further out, interest rates on a 30-year mortgage will continue to rise over the next two years, hitting 4.2% in 2022 and 4.9% in 2023. That's compared with 2.8% in 2020.

If you're considering buying a home anytime soon, it's important to get prequalified now so you can take advantage of current rates. You can prequalify through multiple mortgage lenders at once on Credible without affecting your credit score. 

While inventory may be keeping some potential buyers from taking out a mortgage, there's no reason why homeowners shouldn't consider refinancing their mortgages — and fast. Refinancing activity is 8% lower than it was one year ago, according to the MBA's index. But as mortgage rates are predicted to rise, refinancing becomes less and less alluring.

If you haven't yet refinanced your mortgage, consider doing so now while rates are still low. To determine if refinancing is right for you, ask yourself:

In most cases, mortgage refinancing can help you save money on your monthly payments, pay off your mortgage faster or pay less money in interest charges over the life of the loan by securing a lower interest rate. You can use Credible's mortgage calculator to estimate your monthly mortgage payment and decide if refinancing is right for you. Get in touch with a loan officer at Credible if you have any questions about the mortgage process.

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Atlanta Fed president projects 2022 interest rate hike: What it could mean for your mortgage refinance

Fox Business 28 June, 2021 - 03:40pm

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Despite most experts predicting that the Federal Reserve will raise interest rates as soon as 2023, an improving jobs market and rising inflation is leading the president of one Federal Reserve bank to believe it should happen sooner, which would create an uptick on mortgage and refinance rates. 

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said that he projects the next interest rate hike "to late 2022," and based his opinion on "upside surprises in recent data points." He also said that rising prices are not going away anytime soon, adding that it may now take about six to nine months for prices to come back down as inflation continues to rise.

To see what interest rate you could get on a mortgage refinance before refinance rates increase, visit Credible and compare multiple mortgage lenders at once

Current targets set inflation growth for 2021 at 7%, well-above the Fed’s targeted rate of 2%. The federal funds rate, which indirectly affects mortgage interest rates, is currently set at 0% in an attempt to spur activity during the recession. This has kept mortgage rates – as well as rates on student loans, personal loans, credit cards and more – at record lows. 

As interest rates prepare to rise, millions of homeowners can still take advantage of today’s low interest rates. Check out Credible to find personalized home loan rates and lower your mortgage payment without affecting your credit score. 

While there are still not enough voting members predicting a rate hike in 2022 to make it a reality, more Fed members are changing their predictions to start the first increase sooner as economic data improves, making an earlier rate hike more of a possibility. 

Visit Credible to look at your refinance options before interest rates increase to compare rates and get prequalified in minutes. 

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