Mortgage Rates for December 5, 2024
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Mortgage rates fluctuate as the economy shifts, influenced by new data, investor sentiment, and lender risk tolerance. While the Federal Reserve’s rate decisions impact the financial landscape, fixed mortgage rates primarily follow the 10-year Treasury yield, which rises when investor confidence is high. Despite recent Fed rate cuts, mortgage rates have climbed due to these dynamics. The next Fed meeting in December will provide insight into future rate expectations and the 2025 economic outlook. Home buyers and sellers should focus on securing the best rates available regardless of market trends.
All rate data is accurate as of December 5, 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, a decrease of 13 basis points 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 6.09 percent. At this rate, monthly payments total $849 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 5.125 %, with a 5.422 % APR available today in our mortgage lender network.
