Today’s Mortgage Rates Move Below 3.9% | January 13, 2022 | Personal Finance

The latest rates on adjustable-rate mortgages

  • The latest rate on a 5/1 ARM is 2.442%. ⇓
  • The latest rate on a 7/1 ARM is 3.788%. ⇓
  • The latest rate on a 10/1 ARM is 4.028%. ⇓

Adjustable-rate mortgages will start out with a low-introductory interest rate that will be fixed for a time. Eventually, however, the rate becomes variable and can reset at a higher level. The interest rate on a 5/1 ARM, for example, will be fixed for five years before resetting annually. An adjustable-rate loan could be a good option if you don’t plan on keeping the home beyond the fixed-rate period.

The latest VA, FHA and jumbo loan rates

The average rates for FHA, VA and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 3.667%. ⇓
  • The rate on a 30-year VA mortgage is 3.724%. ⇓
  • The rate on a 30-year jumbo mortgage is 3.555%. ⇓

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed-rate refinance is 4.026%. ⇓
  • The refinance rate on a 15-year fixed-rate refinance is 3.004%. ⇓
  • The refinance rate on a 5/1 ARM is 2.737%. ⇓
  • The refinance rate on a 7/1 ARM is 3.93%. ⇓
  • The refinance rate on a 10/1 ARM is 4.174%. ⇓

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