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Mortgage Rates Today, Thursday, July 21

July 21, 2016
Mortgage Rates, Mortgages
Mortgage Rates Thursday, July 21
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Thirty-year fixed mortgage rates are higher Thursday, while 15-year fixed and 5/1 ARM rates are unchanged, according to a survey of national lenders by NerdWallet.

“Post-Brexit volatility tapered off over the last two weeks, allowing interest rates to bounce back a bit from their record (10-year Treasury yield) and near-record (30-year mortgage rate) lows,” Sean Becketti, chief economist for Freddie Mac, said in a news release. “This week, the 30-year fixed mortgage rate increased 3 basis points to a still-quite-low 3.45%. With the Federal Reserve on hold and the U.K. monetary authority taking at least a one-month breather, we don’t expect any significant movement in mortgage rates in the near term.”

The NerdWallet Mortgage Rate Index compiles annual percentage rates, which include lender interest rates plus fees and are the most accurate way for consumers to compare rates. Here are today’s average rates for the most popular loan terms:

Purchase Mortgage Rates: July 21, 2016

(Change from 7/20)

30-year fixed: 3.66% APR (+0.02)

15-year fixed: 3.06% APR (NC)

5/1 ARM: 3.45% APR (NC)

Wells Fargo, Chase and BOA mortgage rates

Three major components of the NerdWallet Mortgage Rate Index are leading lenders Wells Fargo, Chase and Bank of America. Their current purchase mortgage rates are:

Bank mortgage rates 7/21

 30-year fixed15-year fixed5/1 ARM
Wells Fargo3.68% APR3.07% APR3.50% APR
Chase3.47% APR2.89% APR3.39% APR
Bank of America3.67% APRN/A3.38% APR

NerdWallet daily mortgage rates are an average of the published APR with the lowest points for each loan term offered by a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.