Mortgage rates for 30-year fixed loans and 5/1 ARMs remained unchanged, while 15-year fixed loans went up four notches, according to a NerdWallet survey of daily mortgage rates published by national lenders Monday morning.
Mortgage rates fell last week to their lowest levels in two months, in response to falling stock prices. Stocks declined as a result of disappointing corporate earnings, as well as political uncertainty. With today’s calendar barren of any economic reports of consequence, mortgage rates are starting off the week with little volatility.
While mortgage rates are low by historical standards, home affordability continues to be a challenge in many markets, as home prices continue to rise. Wednesday and Thursday will bring the latest reports on prices for new homes as well as for resales of existing homes.
MORTGAGE RATES TODAY, Monday, AUG. 21:
NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.
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