Categories: Rate News

Today’s Mortgage Rates | August 16, 2021

The Refinancing Window Is Closing

Interest rates are creeping up and property values are starting to fall from their peak. Homeowners hoping to capitalize on an equity spike need to get their refinancing deals settled now. If you are considering listing now, put your house on the market today. However, potential buyers may benefit from waiting a bit as home prices continue to level out.

30 Year Fixed Mortgage Rate

Today’s Mortgage Rate2.919%
Change From Yesterday-0.028
Change From One Week Ago+0.052
Change From One Year Ago-0.226

15 Year Fixed Mortgage Rate

Today’s Mortgage Rate2.191%
Change From Yesterday-0.010
Change From One Week Ago-0.016
Change From One Year Ago-0.528

Today’s Financial Headlines

Should You Sell To Get Out Of Forbearance?

The majority of the homeowners that requested pandemic mortgage forbearance have now recovered financially. However, there are still over a million homeowners in forbearance, and some of them will be at the end of their 18 month grace period this fall. if you won’t be able to make your payments when forbearance ends, this might be a good time to sell your home. This guide walks you through the options.

Pay Off Your Mortgage Faster With These Tips

The faster you pay off your mortgage, the less interest you pay. Some people opt for 15 year mortgages, but then they are obligated to a higher monthly payment. Others choose the lower mandatory payment they can get with a 30-year mortgage, but they make extra payments whenever their budget allows. The end goal for all of these strategies is the same; pay off the mortgage faster and save money. This guide shows you several different strategies for faster repayment.

The Fed Is Watching The Soaring Housing Market With Concern

Federal reserve officials are concerned about the rising costs of homes in the US, including the ways in which rising home prices will trickle down to rising rent prices. Housing affordability has been a long term economic crisis in the US, and the current market boom is making the problem worse. The fed is considering cutting their treasury bond purchases to slow the market.

Lee Okwei

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