Mortgage Rates for November 13, 2024
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Mortgage rates fluctuate as the economy shifts, influenced by new data, Federal Reserve decisions, and lender risk tolerance. Recently, the Fed cut rates by a quarter-point in November, following a half-point reduction in September, and more changes may come in 2025. However, the outlook remains uncertain after Trump’s reelection. While the Fed doesn’t set mortgage rates directly, its actions impact the 10-year Treasury yield, which mortgage rates often follow. The 10-year yield rises when investor confidence in the economy is high, including in monetary policy. Despite these influences, it’s always wise to shop around for the best rate if you’re ready to buy or sell.
All rate data is accurate as of November 13, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.88 percent, a decrease of 2 basis points from last week. The average rate was lower just a month ago, at 6.54 percent. At this rate, monthly payments total $657.26 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 6.20 percent. At this rate, monthly payments total $855 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 5.325 % APR available today in our mortgage lender network.
