Mortgage Rates for December 12, 2024
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Mortgage rates fluctuate with economic changes, public data releases, and lender risk tolerance. While the Federal Reserve cut interest rates in September and November, mortgage rates remain above September’s lows as investors speculate on the economic effects of Republican-led policies. Fixed mortgage rates often align with the 10-year Treasury yield, which rises when investors are optimistic about the economy. Though the Fed doesn’t directly set mortgage rates, its decisions significantly influence them. Regardless of market conditions, monitor mortgage rates to secure the best deal if you’re ready to buy.
All rate data is accurate as of December 12, 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 6 basis points from last week. The average rate was higher just a month ago, at 6.91 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 6.03 percent. At this rate, monthly payments total $845 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 5.388 % APR available today in our mortgage lender network.
