Today’s Mortgage and Refinance Rate: June 6, 2021


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Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

How mortgage rates have changed

Mortgage rate trends

Money.com conventional rates; RedVentures government guaranteed rates.

Over the past week, fixed mortgage rates have risen, but by a maximum of nine basis points. Variable rate mortgage rates have also changed; the average rate for a 7/1 ARM dropped four basis points to 4.16% while the average rate for a 10/1 ARM fell to just under 4%. For government-guaranteed mortgages, the rates on a 30-year FHA loan fell 15 basis points, but the rates on a VA loan only increased by one.

Trends in refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

All of the average fixed and adjustable refinance rates have increased over the past week, but only slightly. The rates on government guaranteed refinancing loans, however, have remained roughly stable or have declined.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

Mortgage rate forecast in 2021

Mortgage rates should stay low for a few more months, but you may see rates start to rise in late summer or fall.

Mortgage rates are highly dependent on employment and inflation in the United States. When employment and inflation figures improve, mortgage rates rise; when they get worse, mortgage rates go down.

However, unemployment and inflation need to grow steadily and over the long term for mortgage rates to rise. If both continue to improve over the next few months, we might see higher rates.

About the authors

Laura Grace Tarpley is Editor-in-Chief at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

Ryan Wangman is a review officer at Personal Finance Insider and reports on mortgages, refinancing, bank accounts, bank reviews, and loans. In his past writing about personal finance, he wrote about credit scores, financial literacy, and homeownership.

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About Teresa G. Wilson

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