Today’s Mortgage Rates | December 29, 2021 | Personal Finance

Adjustable-rate mortgages generally offer low interest rates for the first several years after your take out the loan. Once the adjustable period begins, however, the rate can go up — sometimes substantially. For example, a 5/1 ARM will have a fixed rate for five years before it starts to change annually. Most people who opt for an ARM plan to move or refinance before the fixe-rate period ends.

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 3.3%.⇓
  • The rate on a 30-year VA mortgage is 3.394%. ⇓
  • The rate on a 30-year jumbo mortgage is 3.691%. ⇑

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 3.818%. ⇓
  • The refinance rate on a 15-year fixed-rate refinance is 2.661%. ⇓
  • The refinance rate on a 5/1 ARM is 3.419%. ⇑
  • The refinance rate on a 7/1 ARM is 3.387%. ⇑
  • The refinance rate on a 10/1 ARM is 4.011%. ⇔

Average Mortgage Refinance Rates

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