Mortgage Rates for December 2, 2024
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Based on economic trends, investor sentiment, and lender risk tolerance, mortgage rates fluctuate daily. While the Federal Reserve influences rates, it doesn’t directly set fixed mortgage rates more closely tied to the 10-year Treasury yield. Treasury yields tend to rise when investor confidence in the economy grows, reducing demand for notes. As the Fed prepares to release economic projections and rate decisions for its December meeting, mortgage rates remain critical for homebuyers. Monitoring rates can help you secure a cost-effective lender if you’re ready to move.
All rate data is accurate as of December 2, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.91 percent, a decrease of 7 basis points from last week. The average rate was higher just a month ago, at 6.93 percent. At this rate, monthly payments total $659.27 per $100,000 borrowed in principal and interest.
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 6.375 %, with a 6.461% APR available today in our mortgage lender network.
