As of June 9, 2021, the average 30-year fixed mortgage rate is 2.99%. The average 15-year fixed mortgage rate is 2.24%. Other key current rates are listed in the table below:
|Mortgage Type||Interest Rate|
|30-Year Fixed-Rate Mortgage||2.99%|
|20-Year Fixed-Rate Mortgage||2.80%|
|15-Year Fixed-Rate Mortgage||2.24%|
|10-Year Fixed-Rate Mortgage||2.16%|
|7/1 ARM (Adjustable-Rate)||2.45%|
|5/1 ARM (Adjustable-Rate)||2.42%|
Rates on fixed-rate mortgages continue to be in somewhat of a holding pattern for the past six weeks or so, after a significant rise early in 2021 that then settled down during the month of April.
Nevertheless, current mortgage rates continue to be at historic lows, with the average fixed-rate mortgage sitting below 4% for over two years. It continues to be a great time to buy in terms of today’s mortgage rates, provided of course you can successfully land a property in today’s hot real estate (seller’s) market.