Mortgage Rates for June 10, 2024

The 10-year Treasury yield, which fluctuates with investor appetite, economic conditions, inflation, and Federal Reserve decisions, influences fixed mortgage rates. Following the Fed meeting on May 1, policymakers decided not to cut rates, with the announcement expected on June 12. Dick Lepre of RealFinity notes that markets anticipate only one rate cut for the rest of 2024, with rates staying flat. Despite market trends, buying a home is often based on individual needs. Depending on your situation, it might be wise to accept a higher rate now and refinance later to start building equity rather than waiting for potentially lower home prices.

All rate data is accurate as of June 10, 2024, at 7:30 a.m. ET.

Today’s 30-year mortgage interest rate

Today, the average 30-year fixed mortgage rate is 7.05 percent, marking a decrease of 12 basis points compared to last week. Notably, the average rate was higher just a month ago at 7.21 percent. At this rate, monthly payments total $668.66 per $100,000 borrowed in principal and interest, an increase of $8.10 per $100,000 compared to the previous week.

Today’s 15-year mortgage interest rate 

The latest average rate for a 15-year fixed mortgage is 6.57 percent, a decrease of 9 points from last week. At this rate, monthly payments total $875 per $100,000 borrowed, so choosing this repayment plan presents notable advantages. 
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 5.572 APR available today in our mortgage lender network.