Today’s mortgage and refinance rates: April 3, 2022

During the pandemic, mortgage rates were historically low. Now that rates are back to pre-pandemic levels, many homebuyers are finding that their budgets don’t stretch quite as far as they did when 30-year rates were below 3%.

However, that doesn’t mean it’s time to abandon your homebuying plans.

“Buyers should keep in mind that increasing rates doesn’t mean it’s a bad time to buy a home,” says Robert Heck, vice president of mortgage at Morty. “Rates are rising to reflect the overall strength of the economy and combat rising inflation, ending the pandemic-era policies and secondary market activity that kept rates at historic lows.”

Mortgage rates today

Mortgage type Average rate today
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