Today's mortgage rates

2.38%
3.24%
4.14%
4.09%
2.62%
2.67%

Conventional rates from Money.com; government-backed rates from RedVentures.

Today's refinance rates

2.50%
3.39%
4.48%
3.84%
2.63%
2.70%

Conventional rates from Money.com; government-backed rates from RedVentures.

Mortgage interest rates forecast

Plenty is still up in the air for mortgage rates, but they may inch higher later in 2021.

Last week, Federal Reserve chair Jerome Powell said that the Fed could start tapering its asset purchasing later this year. When the economy struggles the way it has during the COVID-19 pandemic, the Fed buys assets more aggressively to support the economy.

The US has been gradually recovering over the past few months, though, so the Fed could announce that it will cut down on asset purchases as soon as its next meeting on September 21 and 22.

Popular Articles

So, how does this affect mortgage rates?

Mortgage rates could increase once the Fed begins to buy fewer mortgage-backed securities. However, the Fed announced that the economy isn't so strong that it will raise the federal funds rate anytime soon. This could be a sign that mortgage rates won't soar significantly higher, because rates tend to stay low when the economy is weak.

Best Mortgage Rates Today: Wednesday September 1, 2021

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.