St. Louis, MO (MO.Properties) According to online sources, today, February 4, 2021 the current mortgage rates are as follows:
- 30-Yr FRM – 2.73%
- 15-Yr FRM – 2.21%
- 5/1-Yr ARM – 2.78%
Rates are trending sideways this week remaining near record lows, which is not a sign of strength for the economy. The current market is an exellent time to refinance existing homes. However, purchasing new homes is difficult due to supply remains low, creating over inflated prices. While it may be tempting to rush out and move up to a bigger home, be careful because high prices are offsetting the benefits of low rates. Do you homework and visit with mortgage experts and your realtor.