Mortage Rates for September 30, 2024
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Mortgage rates have declined, dropping below 6.5 percent as of September 11. This decrease is primarily due to slower inflation and weaker job numbers, making it likely that the Federal Reserve will cut rates at its upcoming meeting on September 18. While the Fed doesn’t directly control mortgage rates, its actions influence them through the 10-year Treasury yield, which fluctuates based on economic confidence. However, the real estate market doesn’t always move in step with these factors. If you’re ready to buy or sell a home, it may be wise to act now and shop for the best rates available.
All rate data is accurate as of September 30, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.22 percent, a decrease of 3 basis points compared to last week. Notably, the average rate was higher just a month ago, at 6.46 percent. At this rate, monthly payments total $613.77 per $100,000 borrowed in principal and interest, an increase of $3.25 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 5.72 percent, down 3 points from last week. At this rate, monthly payments total $812 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 4.125 %, with a 4.455 APR available today in our mortgage lender network.
