Mortgage Rates for December 9, 2024
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Mortgage rates fluctuate with economic changes, new data, and lender risk tolerance. Despite the Federal Reserve cutting interest rates in September and November and hinting at another cut this month, mortgage rates remain elevated. Fixed mortgage rates are influenced by the 10-year Treasury yield, which rises when investor confidence in the economy grows. While the Fed doesn’t directly set mortgage rates, its policies significantly shape economic conditions. If you’re buying or selling a home, compare lenders to secure the best rate for your needs.
All rate data is accurate as of December 9, 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 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 $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 $620.00 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 4.875 %, with a 5.223 % APR available today in our mortgage lender network.
