Mortgage Rates for September 6, 2024
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In August, mortgage rates dropped following a weaker-than-expected jobs report that raised investor concerns and reinforced expectations of a Federal Reserve rate cut in September. While the Fed doesn’t directly set mortgage rates, its actions influence them. Mortgage rates often fluctuate in tandem with the 10-year Treasury yield, which rises when investors feel optimistic about the economy. However, relying solely on factors like Fed policy, inflation, or yields shouldn’t dictate your decision to buy or sell a home. If you’re financially prepared to move, it’s best to monitor rates consistently to secure the most favorable deal.
All rate data is accurate as of September 6, 2024, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 6.38 percent. Notably, it was higher just a month ago, at 6.51 percent. At this rate, monthly payments total $624.20 per $100,000 borrowed in principal.
Today’s 15-year mortgage interest rate
The latest average rate for a 15-year fixed mortgage is 5.68 percent, down 8 points from last week. At this rate, monthly payments total $827 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 4.3%, with a 4.6 APR available today in our mortgage lender network.
