Mortgage And Refinance Rates Today, Dec. 27| Rates steady-ish

Mortgage And Refinance Rates Today, Dec. 27| Rates steady-ish
Written by Publishing Team

Mortgage rates and refinancing today

Average mortgage rates rose again last Thursday. They are now at their highest level in the past 30 days.

However, there are signs this morning that markets are once again focusing on the Omicron variant of COVID-19. And Today’s mortgage rates may remain flat or low.

Find your lowest rate. START HERE (December 27, 2021)

Current Mortgage and Refinancing Rates

a program Mortgage rate April * change
Traditional fixed for 30 years 3.37% 3.393% without change
Fixed traditional for 15 years 2.494% 2.528% without change
Fixed 20 year old 3.134% 3.163% without change
Conventional fixed for 10 years 2,631% 2.701% without change
30 Years Fixed FHA 3.224% 3.937% -0.23%
15 Years FHA Fixed 2.594% 3.24% without change
5/1 ARM FHA 2.342% 3.18% without change
30 years constant VA 2.996% 3.186% without change
15 years constant VA 2.902% 3.25% without change
5/1 ARM VA 2.5% 2.533% without change
Prices are provided by our partner network, and may not reflect the market. Your evaluation may be different. Click here for a personal price quote. See our defaults rate here.

Should You Lock Your Mortgage Rate Today?

Overnight, CNBC reported that some bond yields were falling “as investors digested Omicron’s data.” This may bring better news for mortgage rates.

If markets finally take Omicron’s economic threats seriously, those rates will likely fall for some time.

Currently, my personal rate lock recommendations remain as follows:

  • float If closed in 7 days
  • float If closed in 15 days
  • float If closed in 30 days
  • float If closed in 45 days
  • float If closed in 60 days

> Related: 7 Tips for Getting the Best Refinance Rate

Market data affecting mortgage rates today

Here’s a snapshot of the state of play this morning at around 9:50 a.m. (ET). The data, compared to about the same time last Thursday, was:

  • the The yield on 10-year Treasury bonds A slight decline to 1.48% from 1.49%. (Good Mortgage Rates.) More than any other market, mortgage rates typically tend to follow these specific Treasury yields
  • major stock indices They were mostly modestly high shortly after opening. (Bad for mortgage rates.) When investors buy stocks, they often sell bonds, which lowers the prices of those stocks and increases returns and mortgage rates. The opposite may happen when the indicators are lower. But this is an imperfect relationship
  • oil prices It rose to $73.69 from $72.95 a barrel. (Bad for mortgage rates*.) Energy prices play a large role in creating inflation and also indicate future economic activity
  • gold prices It jumped to $1,811 from $1,801 an ounce. (Neutral to Mortgage Rates*.) In general, rates are better when gold is rising, and worse when gold is falling. Gold tends to rise when investors worry about the economy. Concerned investors tend to cut interest rates
  • CNN Business Fear and Greed Index – Increased to 56 from 42 from 100. (Bad For Mortgage Rates.) ‘greedy’ investors push bond prices down (and interest rates go up) as they leave the bond market and move into stocks, while ‘scared’ investors do the opposite. So lower readings are better than higher ones

* A change of less than $20 on gold prices or 40 cents on oil prices is a fraction of 1%. So we only count significant differences as good or bad for mortgage rates.

Warnings about markets and prices

Before the pandemic and the Federal Reserve’s interventions in the mortgage market, you could look at the above numbers and guess well what will happen to mortgage rates that day. But this is no longer the case. We still make daily calls. Usually they are right. But our accuracy record won’t hit the previous highs until things settle down.

So use the markets only as a rough guide. Because they must be exceptionally strong or weak to count on. But with that caveat, Mortgage rates today may remain unchanged or even drop slightly. However, you should be aware that “intraday volatility” (when prices change direction during the day) is a common feature at the moment.

Find your lowest rate. START HERE (December 27, 2021)

Important notes about mortgage rates today

Here are some things you need to know:

  1. Typically, mortgage rates rise when the economy is doing well and fall when the economy is in trouble. But there are exceptions. Read ‘How Mortgage Rates Are Determined and Why You Should Care
  2. Only “first-class” borrowers (with excellent credit scores, great down payments, and very healthy financing) get the ultra-low mortgage rates you’ll see advertised.
  3. Lenders differ. You may or may not follow the crowd when it comes to daily price movements – although they all follow the broader trend over time.
  4. When daily rate changes are small, some lenders adjust closing costs and leave their price tags as is
  5. Refinancing rates are usually close to purchase rates. The recent regulatory change has narrowed the gap that existed previously

So there is a lot going on here. No one can claim to know for sure what will happen to mortgage rates in the coming hours, days, weeks or months.

Are Mortgage and Refinancing Rates Going Up or Down?

No one knows what the medical and economic damage to Omicron will be. Last week, the markets seemed to ignore its risks.

But we saw plenty of evidence of its potential impact over the weekend as airlines were forced to cancel thousands of flights globally due to staff shortages due to high infection rates. And a lot of other companies are affected by the new variable.

Meanwhile, some school districts in the US have already announced a return to remote work, something that could affect parental productivity. And in Europe, many countries have strengthened protection measures against the Corona virus, including some closures.

Yes, there is evidence that Omicron will cause a lower proportion of serious cases and deaths, especially among those who have been vaccinated or previously infected. But its high level of transmissibility puts hospitals at a real risk of burnout. Because a small percentage of a huge number is still a large number.

So far this morning, the markets seem to be paying attention to the Omicron threat, albeit in only a limited way. But if they continue to do so, it could lead to lower mortgage rates.


For most of 2020, the overall trend in mortgage rates has been clearly bearish. And according to Freddie Mac, a new all-time weekly low was set on 16 occasions last year.

The most recent weekly drop occurred on January 7, when it settled at 2.65% for 30-year fixed rate mortgages.

Since then, the picture has been mixed with long periods of highs and lows. Unfortunately, since September, the heights have increased further, although not consistently.

Freddy December 23 The report places that the weekly average of 30-year mortgages, with a fixed interest rate of 3.05% (with fees and points of 0.7), under from 3.12% in the previous week. But that will not take into account all the rises that occurred that week.

Expert Mortgage Rate Predictions

Looking ahead, Fannie Mae and Freddie Mac and the Mortgage Bankers Association (MBA) have a team of economists dedicated to monitoring and forecasting what will happen to the economy, housing sector and mortgage rates.

Here are their forecasts for the current rates for the current remaining quarter of 2021 (Q4/21) and the first three quarters of 2022 (Q1/22, Q2/22 and Q3/22).

The numbers in the table below are for 30-year fixed rate mortgages. Fannie’s published on December 20 and MBA on December 21.

Freddie’s was released on October 15. He now only updates his forecast every three months. So we may not get another of it until January. And its numbers are already outdated.

Predictor Q 4/21 x 1/22 Q 2/22 Q3/22
Fannie Mae 3.1% 3.1% 3.2% 3.3%
Freddy Mac 3.2% 3.4% 3.5% 3.6%
Master of Business Administration 3.1% 3.3% 3.5% 3.7%

However, because there are many unknowns, the entire current crop of forecasts may be more speculative than usual.

And none of these forecasters had any idea that Omicron might completely change the models they relied on.

Find your lowest rate today

Some lenders have been spooked by the pandemic. They limit their offers to vanilla-flavored mortgages and refinancing.

But others are still brave. And you can still find the cash refinancing, investment mortgage or mega loan you want. You just have to shop more extensively.

But, of course, you should compare shopping broadly, no matter what type of mortgage you want. As a federal regulator, the Consumer Financial Protection Bureau says:

Shopping for your mortgage has the potential to lead to real savings. It may not seem like much, but Saving up to a quarter of an interest point on your mortgage can save you thousands of dollars over the life of your loan.

Show me today’s rates (December 27, 2021)

Mortgage Rate Methodology

Mortgage reports receive rates based on specific criteria from multiple lending partners every day. We came up with the average APR and APR for each loan type to display in our chart. Since we categorize a range of prices, it gives you a better idea of ​​what you might find in the market. Moreover, we make average rates for the same types of loans. For example, FHA fixed with fixed FHA. The end result is a good snapshot of daily rates and how they change over time.

The information on the Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed here are those of the author and do not reflect the policy or position of Full Beaker, its officers, parents, or affiliates.

About the author

Publishing Team

Leave a Comment