Homeowners who are considering refinancing should do so while 15-year rates are near record lows. VETERANS BORROWING VA LOANS AT A RECORD PACE, STUDY SHOWS ![]() ![]() We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover around three percent. 15-year rates also dropped to historic lows in January 2021, dipping as low as 2.16% - not much lower than the current rate of 2.20%. 7, 2021, but it's not likely that mortgage rates will drop that low again as the economy continues its post-pandemic recovery. Rates on a 15-year fixed-rate mortgage are 2.20%, down 0.06% from last week and 0.311% from last year.ģ0-year mortgage rates hit an all-time low of 2.65% the week of Jan. Rates on a 30-year fixed-rate mortgage are 2.90%, which is 0.08% lower than the week prior and 0.13% lower than July 2020, according to Freddie Mac. Rates on both 15-year and 30-year mortgage options are lower than they were a year ago. ![]() Mortgage rate trends: What to know if you're buying or refinancing ADJUSTABLE-RATE MORTGAGES HAVE ADVANTAGES FOR HOMEOWNERS - HOW YOU COULD BENEFIT
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