Mortage Rates for November 8, 2024
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Rates fluctuate with economic changes, especially in response to Federal Reserve policy decisions, such as recent interest rate cuts in September and November. Though the Fed doesn’t directly set fixed mortgage rates, its actions impact them through the 10-year Treasury yield. This yield increases when investors are confident in the economy, influencing mortgage rates. If you’re financially prepared to buy or sell a home, tracking mortgage rates can help you find the most affordable lender.
All rate data is accurate as of November 8, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.92 percent, an increase of 2 basis points compared to last week. The average rate was lower just a month ago, at 6.57 percent. At this rate, monthly payments total $659.94 per $100,000 borrowed in principal and interest, an increase of $ 1.34 per $100,000 compared to the previous week.
Today’s 15-year mortgage interest rate
The latest average rate for a 15-year fixed mortgage is 6.18 percent. At this rate, monthly payments total $854 per $100,000 borrowed.
Consumers should shop around to get the best deal. Rates below national averages are available. FreeRateUpdate.com has verified fixed mortgage rates as low as 5.125 %, with a 5.479 % APR available today in our mortgage lender network.
