Mortgage Rates for December 11, 2024
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Mortgage rates fluctuate daily, influenced by economic conditions, new data, and lender risk assessments. Despite the Federal Reserve cutting interest rates in September and November and hinting at another cut this month, mortgage rates haven’t returned to September’s lows as investors weigh the impact of a Republican-led government on the economy. Fixed mortgage rates often track the 10-year Treasury yield, which rises when investor confidence in the economy and monetary policy increases. While the Fed’s decisions don’t directly set mortgage rates, they significantly shape market trends. If your housing needs require immediate action, shop for the best rate, regardless of market conditions.
All rate data is accurate as of December 11, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.73 percent, a decrease of 7 basis points from last week. The average rate was higher just a month ago, at 6.88 percent. At this rate, monthly payments total $647.27 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 6.07 percent. At this rate, monthly payments total $616 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 4.990 %, with a 5.320 % APR available today in our mortgage lender network.
