Mortgage Rates for December 3, 2024
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Based on economic shifts, new data, and lender risk tolerance, mortgage rates fluctuate daily. While the Federal Reserve’s decisions influence rates, they don’t directly control fixed mortgage rates, which often track the 10-year Treasury yield. These yields increase when demand for Treasury notes decreases, typically during periods of economic confidence. The Fed has another meeting in December 2024, where it might cut rates again and release projections for next year. Regardless of market trends, it’s wise to evaluate your housing needs and shop around to secure the best mortgage deal.
All rate data is accurate as of December 3, 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 12 basis points from last week. The average rate was higher just a month ago, at 6.90 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 6.19 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 5.250 %, with a 5.601 % APR available today in our mortgage lender network.
