September 2021 mortgage rates are fairly stable as we finish off summer and head into the fall. Demand for mortgages remains healthy as homebuyers and current homeowners take advantage of the current low rate environment.

As we move into September the main driver of mortgage rates will be how well or how bad things are going with the Delta variant and inflation.

Opportunities And Risks For September 2021

We’re expecting a fairly “boring” month for mortgage rates.

There is a healthy mix of inflation fears (bad for mortgage rates) and economic fears (good for mortgage rates). Unless something significant and unexpected happens we anticipate September 2021 mortgage rates to be stable for the most part.

The number one risk for mortgage rates is a quick end to the Delta variant (this would cause mortgage rates to move higher). And if things get significantly worse with the Delta variant that could be an opportunity for mortgage rates to improve.

September 2021 Mortgage Rate Forecast For California

Here are our latest September 2021 mortgage rate forecasts for California:

30-year fixed rates below 2.75%
20-year fixed rates below 2.625%
15-year fixed rates below 2.125%

Our September 2021 mortgage rate forecast is based on properties in California, a loan amount of $350,000, a primary home, excellent credit (740 or higher credit score), and a Loan-To-Value ratio below 60% (purchase transactions).

We may see days in which mortgage rates spike higher however overall we believe there will be opportunities to lock a mortgage rate at or below these levels throughout the month of September.

Mortgage Rate And Payment Chart

Here is a quick reference guide to September 2021 mortgage rate possibilities in California (these are not quotes; just examples) and the payments associated with each level based on various conforming loan amounts. See our important disclosure below.

30-Year Fixed-Rate Mortgage:

Term	Loan Amount	Mortgage Rate	Payment
30-year fixed	$205,500	2.50%	$811.97
30-year fixed	$305,500	2.50%	$1,207.09
30-year fixed	$405,500	2.50%	$1,602.22
30-year fixed	$505,000	2.50%	$1,997.34

20-Year Fixed-Rate Mortgage:

Term	Loan Amount	Mortgage Rate	Payment
20-year fixed	$205,500	2.25%	$1,064.10
20-year fixed	$305,500	2.25%	$1,581.90
20-year fixed	$405,500	2.25%	$2,099.71
20-year fixed	$505,500	2.25%	$2,617.52

15-Year Fixed-Rate Mortgage:

Term	Loan Amount	Mortgage Rate	Payment
15-year fixed	$205,500	1.875%	$1,310.62
15-year fixed	$305,500	1.875%	$1,948.38
15-year fixed	$405,500	1.875%	$2,586.15
15-year fixed	$505,500	1.875%	$3,223.92

Important Disclosure For September 2021 mortgage rates: The above is not a mortgage rate quote; nor is it an offer to lend. It’s only a generic example of various mortgage rates, loan amounts, and payments. Our mortgage rate chart is meant to educate and inform our readers. The current September 2021 mortgage rate market may be higher or lower than the examples listed in these mortgage rate charts. Also; mortgage rates can and often do adjust multiple times a day.

California Mortgage Calculator

Using a mortgage calculator to figure out your monthly payment is an essential part of buying a home in California or refinancing a current mortgage. Use our free mortgage calculator to help you determine what you can afford.

With our online mortgage calculator, you can also factor in your property tax amount along with your annual homeowner’s insurance amount with your monthly mortgage payment.

Our California mortgage calculator is free and easy to use.

And our mortgage calculator is especially helpful for those who want to impound their property taxes and property insurance into their monthly mortgage payment. If you have any questions about or California mortgage calculator please don’t hesitate to ask.

Update Mortgage Guidelines September 2021

Mortgage guidelines have not changed much the last 3-4 months and we expect that to continue through out 2021.

Economic Calendar For September 2021

Here we cover the daily economic events that might impact mortgage rates. After the report comes out we’ll update the post with that information and comment on if there is a potential impact on the Mortgage-Backed Securities market and consumer mortgage rates.

To start things off we have:

ISM Manufacturing report
ADP Employment (sometimes comes out the day before the 1st of the month)
ISM Non-Manufacturing PMI
BLS Employment report

Wednesday – September 29th:

Thursday – September 30th:

Jobless Claims: Last week the Jobless Claims report came in at 351,000 and this week the report came in at 362,000. Continued Claims came in at 2,802,000 (last week Continued Claims came in at 2,845,000).

MBA Purchase and Refinance Index: The Purchase Index came in at 280.4 and the Refinance Index came in at 3359.5.

Monday – September 27th:

Durable Goods: The Durable Goods report came in at 1.8% and the market was expecting a 0.7% increase. There was some impact on September 2021 mortgage rates.

Thursday – September 23rd:

Jobless Claims: Last week the Jobless Claims report came in at 332,000 and this week the report came in at 351,000. Continued Claims came in at 2,845,000 (last week Continued Claims came in at 2,665,000).

Wednesday – September 22nd:

MBA Purchase and Refinance Index: The Purchase Index came in at 283.9 and the Refinance Index came in at 3391.1.

Tuesday – September 21st:

Housing Starts: For the month of August housing starts came in at 1,615,000 units (annual rate).

Thursday – September 16th:

Jobless Claims: Last week the Jobless Claims report came in at 310,000 and this week the report came in at 332,000. Continued Claims came in at 2,665,000 (last week Continued Claims came in at 2,783,000).
Retail Sales: The Retail Sales report was much strong than anticipated (0.7% vs expectations of -0.8%). Mortgage rates responded negatively post report.

Wednesday – September 15th:

MBA Purchase and Refinance Index: The Purchase Index came in at 277.9 and the Refinance Index came in at 3185.6.

Tuesday -September 14th:

Core CPI: The market was expecting Core Consumer Price Index (CPI) to increase 4.2% however the report showed an increase of 4.00%. September 2021 mortgage rates rallied post report.

Thursday – September 9th:

Jobless Claims: Last week the Jobless Claims report came in at 340,000 and this week the report came in at 310,000. Continued Claims came in at 2,783,000 (last week Continued Claims came in at 2,748,000).

Wednesday – September 8th:

MBA Purchase and Refinance Index: The Purchase Index came in at 258.4 and the Refinance Index came in at 3292.1. There was no impact on September 2021 mortgage rates.
Consumer Credit: The Consumer Credit report came in at 17 billion dollar increase and expectations were for a reading of a 25.0 billion dollar increase.

Friday – September 4th:

Employment Report: Expectations were for 728,000 jobs created and the report showed only 235,000 jobs created. Wage earnings jumped much higher than expected (0.6% vs 0.3%). September 2021 mortgage rates were under pressure post report (due to the huge jump in wages).

Thursday – September 3rd:

Jobless Claims: Last week the Jobless Claims report came in at 353,000 and this week the report came in at 340,000 (this had no impact on September 2021 mortgage rates). Continued Claims came in at 2,748,000 (last week Continued Claims came in at 2,775,000).

Wednesday – September 2nd:

MBA Purchase and Refinance Index: The MBA Purchase Index came in at 259.0 (last week it was 257.5) and the MBA Refinance Index came in at 3385.8 (last week 3520.7).
ADP Employment Report: The market is expecting the report to show 613,000 jobs created after last month’s report of 374,000 jobs created. This might help September 2021 mortgage rates if the Friday employment report is below expectations.
ISM Manufacturing PMI: The market was expecting the ISM Manufacturing PMI report to come in at 58.6 however the report came in at 59.9.

Mortgage Rates And The Monthly Jobs Report

The market is expecting the monthly jobs report to come in at 750,000 jobs created however there are concerns it could come in lower than that after a disappointing ADP Employment Report.

Average earnings expectations are expected to increase 0.3% and average hours worked expectations are 34.8 hours.

If the report comes in significantly below expectations that might help September 2021 mortgage rates.

September 2021 Mortgage Rates In California – Average

We’ll update this section as we move further into September however to start off the month we’re seeing the following averages.

The average 30-year fixed mortgage rate is 2.625%.
The average 20-year fixed mortgage rate is 2.50%
The average 15-year fixed rate is 2.00%.

This is an average of the September 2021 mortgage rates of everyone we’re seeing; from less than perfect credit to excellent credit. Please keep in mind that mortgage rates adjust daily; sometimes multiple times during the day. For a mortgage quote specific to your situation please be sure to contact us directly.

Mortgage-Backed Securities & Treasury Snapshot

September 27th – September 30th:

Mortgage-Backed Security UMBS 2.0 started the week at the 100.25 level and the UMBS 2.5 coupon started at the 103.09 level. The 10y Treasury yield was at the 1.49% level to start the week.

At the end of the week, Mortgage-Backed Security UMBS 2.0 was at the 100.36 level and the UMBS 2.5 coupon was nearing the 103.20 level. The 10y Treasury yield was at 1.487%.

September 20th – September 24th:

Mortgage-Backed Security UMBS 2.0 started the week at the 101.06 level and the UMBS 2.5 coupon started at the 103.66 level. The 10y Treasury yield was at the 1.31% level to start the week.

At the end of the week, Mortgage-Backed Security UMBS 2.0 was at the 100.42 level and the UMBS 2.5 coupon was nearing the 103.22 level. The 10y Treasury yield was at 1.45%.

September 13th – September 17th:

Mortgage-Backed Security UMBS 2.0 started the week at the 101.20 level and the UMBS 2.5 coupon started at the 103.78 level. The 10y Treasury yield was at the 1.32% level to start the week.

At the end of the week, Mortgage-Backed Security UMBS 2.0 was at the 100.92 level and the UMBS 2.5 coupon was nearing the 103.55 level. The 10y Treasury yield was at 1.36%.

September 6th – September 10th:

Mortgage-Backed Security UMBS 2.0 started the week at the 101.17 level and the UMBS 2.5 coupon started at the 103.72 level. The 10y Treasury yield was at the 1.36% level to start the week.

At the end of the week, Mortgage-Backed Security UMBS 2.0 was at the 101.28 level and the UMBS 2.5 coupon was nearing the 103.91 level. The 10y Treasury yield was at 1.34%.

September 1st – September 3rd:

Mortgage-Backed Security UMBS 2.0 started the week at the 101.30 level and the UMBS 2.5 coupon started at the 103.83 level. The 10y Treasury yield was at the 1.28% level to start the week.

At the end of the week, Mortgage-Backed Security UMBS 2.0 was at the 101.34 level and the UMBS 2.5 coupon was nearing the 103.84 level. The 10y Treasury yield was at 1.32%.