Mortgage Rates for December 10, 2024
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Mortgage rates fluctuate as the economy evolves, new data emerges, and lenders reassess risk. While the Federal Reserve cut interest rates in September and November and hinted at another cut soon, mortgage rates remain above recent lows. These rates often follow the 10-year Treasury yield, which rises when economic confidence is high and demand for Treasury notes decreases. Although the Fed doesn’t directly set fixed mortgage rates, its policies significantly influence the market. If you’re ready to buy a home, monitoring rates can help you secure the best deal.
All rate data is accurate as of December 10, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.80 percent, a decrease of 11 basis points from last week. The average rate was higher just a month ago, at 6.88 percent. At this rate, monthly payments total $651.93 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 6.14 percent. At this rate, monthly payments total $851 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 4.875 %, with a 5.204 % APR available today in our mortgage lender network.
