Recent statistics that those thinking of refinancing in 2021 should consider.


Bill Grabow


nmls # 1788366

The average rate of a 30 year fixed mortgage was 2.80% on October 22, 2020. On October 22, 2021 (Friday) the 30 year fixed average rate was 3.01%. On the surface that may look like a tiny increase, but it is actually a 7.8% increase over the last 12 months.

Let us compare it to a few other current statistics, for example the 10 year Treasury considered a bellwether by some. The 10 year 52 week range is .7460 to 1.7650 closing October 22, 2021 at 1.660. On October 22, 2020 the 10 year rate was .7460 on October 22, 2021 the ten year rate was 1.660. That is a rate of increase over the last 12 months of 90.8%. Last let us consider the September 2021 CPI (Consumer Price Index, a gage of inflation). The September CPI indicates the following increases for month over month in September 2021.

All Major Categories 5.4%

Food 4.6%

Energy 24.8%

All Items less Energy

And Food 4.0%

There is no reason to exclude energy and food as they are among the major household budget items, therefore we will consider September inflation to be 5.4%.

These statistical observations are meant only to be informational and informative. We are not expressing a specific opinion regarding the future. We will leave that to those foolish enough to predict the future.

Denver Mortgage Company Limited is here to help those who feel these statistical facts imply that NOW is a good time to take advantage of still relatively low interest rates with Cash Out Refinancing. Many customers need tax free money after the long pandemic has tortured their savings and twisted their high interest credit cards to pay off high interest debt with very low interest tax free money. We are here to help,

CALL NOW! (720)951-3921.

Many loans are closing in as little as 14 days.