Mortgage Rates for November 11, 2024
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Market rates change frequently, influenced by economic trends, policy decisions, and lender risk tolerance. Recently, the Federal Reserve cut interest rates in both September and early November, with one more potential cut in December. While the Fed doesn’t set mortgage rates directly, its decisions impact the 10-year Treasury yield, which often drives mortgage rates. If you’re considering buying or selling a home, it may be more practical to act now and shop lenders to secure the best rate rather than waiting for potential market shifts.
All rate data is accurate as of November 11, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.91 percent. The average rate was lower just a month ago, at 6.60 percent. At this rate, monthly payments total $659.27 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 6.19 percent. At this rate, monthly payments total $854 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 4.990 %, with a 5.338 % APR available today in our mortgage lender network.
