Mortgage Rates Today – October 4, 2021

The recent spike in mortgage rates today can be attributed to the increase in 10 year Treasury yields this past week. Average 30-year mortgage rates increased to 2.85 percent earlier today, an increase from an average of 2.82 percent yesterday.

Average 15-year mortgage rates also increased 3 basis points from 2.32 percent yesterday, to an average rate of 2.35 percent today. 15-year jumbo mortgage rates were up 4 basis points, rising from 2.31 percent to 2.35 percent. Average 30-year jumbo mortgage rates had a smaller increase from 2.85 percent to 2.87 percent.

The mortgage rates listed above are average mortgage rates today, you can find rates lower then the averages, especially if you're willing to pay mortgage points upfront to get a lower rate. Mortgage points are fees you pay upfront, 1 point is equal to 1 percent of the loan amount. Most lenders have a cap on points, usually 2 points in the max you'll see advertised.

Shorter term adjustable mortgage rates had higher increases since yesterday and week over week. Average 5 year conventional adjustable mortgage rates are at 2.97 percent, up from yesterday's average rate of 2.91 percent. 5 year jumbo adjustable rates were up 7 basis points, rising from 2.84 percent to 2.91 percent.

• 30-year conforming rates - 2.85%
• 15-year conforming rates - 2.35%
• 30-year jumbo rates - 2.87%
• 15-year jumbo rates - 2.35%
• 5-year conforming adjustable rates - 2.97%
• 5-year jumbo adjustable rates  2.91%
• Compare mortgage rates today

Now is probably a good time to lock in a mortgage rate for either purchasing a home or refinancing a current mortgage. Interest rates are widely expected to continue to increase the rest of 2021, which makes now a good as a time as any to lock in a rate. You can search for and compare mortgage rates today.