Mortgage Rates for December 17, 2024
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Mortgage rates, which fell in August and September, have rebounded and remain significantly higher than in recent years, aligning closer to the average of 7.2 percent. These rates typically follow the 10-year Treasury yield, fluctuating with economic conditions and global events like inflation, elections, and geopolitical tensions. While the Federal Reserve doesn’t directly set fixed mortgage rates, its policies influence the market, with a benchmark rate cut anticipated next week. Sean Salter, a finance professor at Middle Tennessee State University, predicts mortgage rates will remain near their current levels. The ongoing uncertainty suggests rates may continue to fluctuate in response to broader economic forces.
All rate data is accurate as of December 17, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.79 percent, down 1 basis point from last week. The average rate was higher just a month ago, at 6.92 percent. At this rate, monthly payments total $651.26 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 6.11 percent. At this rate, monthly payments total $850 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 6.520 %, with a 6.566 % APR available today in our mortgage lender network.
