Mortgage Rates for January 17, 2025
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Mortgage rates are influenced by many factors, some more significant than others. Although the Federal Reserve cut rates in December, mortgage rates have since risen, with the next Fed update expected on January 29. Typically, 30-year mortgage rates follow the 10-year Treasury yield, which shifts with economic conditions. Recently, inflation, changes in the White House, and international developments have also played key roles in rate movements. Greg McBride, CFA, notes that recent core inflation data could help moderate rising bond yields and mortgage rates in the short term.
All rate data is accurate as of January 17, 2025, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 7.11 percent, an increase of 8 basis points. It was lower just a month ago, at 6.93 percent. At this rate, monthly payments total $672.71 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 6.39 percent. At this rate, monthly payments total $865 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 6.625%, with a 6.694% APR available today in our mortgage lender network.
