Mortgage Rates for September 5, 2024
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In August, mortgage rates dropped after a weak jobs report sparked expectations of a Federal Reserve rate cut in September. While the Fed doesn’t directly set mortgage rates, its actions influence them through the 10-year Treasury yield, which they closely follow. Investor confidence in the economy can increase the yield, often increasing mortgage rates. However, market factors like the Fed and inflation aren’t always key to your decision. If you’re ready to buy or sell, it’s wise to act now and shop for the best rates rather than trying to predict future market shifts.
All rate data is accurate as of September 5, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.43 percent. Notably, it was higher just a month ago, at 6.50 percent. At this rate, monthly payments total $627.47 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 5.78 percent, down 5 points from last week. At this rate, monthly payments total $832 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 4.490 %, with a 4.828 APR available today in our mortgage lender network.
