Mortgage Rates for December 4, 2024
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Mortgage rates fluctuate based on economic conditions, new data, and lender risk tolerance. While the Federal Reserve influences the market, it doesn’t directly set fixed mortgage rates; these primarily follow the 10-year Treasury yield, which rises when economic confidence is strong. Since the Fed began cutting rates, mortgage rates have climbed rather than declined, reflecting shifts in investor behavior. The Fed’s final 2024 meeting in December may include additional rate cuts and updated economic projections. Regardless of rate trends, prioritize your housing needs and compare lenders to secure the best deal.
All rate data is accurate as of December 4, 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 16 basis points from last week. The average rate was higher just a month ago, at 6.89 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 6.13 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 6.250 %, with a 6.879 % APR available today in our mortgage lender network.
