Here are the current average mortgage rates in the United States—plus everything you need to know about how mortgages work.
Current average mortgage interest rates in the U.S. in December 2024 Type of MortgageCurrent RateRate Reported a Week PriorRate Reported a Month Prior 6.706%6.561%6.786% 6.864%6.837%7.060% 6.374%6.276%6.420% 6.248%5.990%6.322% 6.384%6.384%6.452% ...
5/1 Adjustable Rate Mortgage: With a 5/1 ARM, consumers get a fixed interest rate that is typically more competitive than market rates for the first five years of their loan. After that, the interest rate can go up or down based on market rates. 7/1 Adjustable Rate Mortgage: With a ...
For context, the chart below shows current rates for mortgages on a primary residence: National mortgage rates by loan type Purchase Refinance ProductInterest RateAPR 30-Year Fixed Rate 6.96% 7.01% 15-Year Fixed Rate 6.23% 6.31% 5-1 ARM 6.47% 7.25% 30-Year Fixed Rate FHA 6.72% 6.76% ...
Decisions from the Federal Reserve can have a big impact on interest rates. If it cuts the federal funds rate, this has a knock-on effect on other interest rates for both savers and borrowers. Interest rates can also rise or fall because of inflation or changes in the supply and demand ...
FHA Old/New Condo Comparison Chart30 %>30 - 35%>35 - 40%>40 - 45%>45 - 50%Condo ApprovalGuide Section
Current average mortgage interest rates in the U.S. in December 2024 Type of MortgageCurrent RateRate Reported a Week PriorRate Reported a Month Prior 6.706%6.561%6.786% 6.864%6.837%7.060% 6.374%6.276%6.420% 6.248%5.990%6.322% 6.384%6.384%6.452% ...
Current average mortgage interest rates in the U.S. in December 2024 Type of MortgageCurrent RateRate Reported a Week PriorRate Reported a Month Prior 6.706%6.561%6.786% 6.864%6.837%7.060% 6.374%6.276%6.420% 6.248%5.990%6.322% 6.384%6.384%6.452% ...
Current average mortgage interest rates in the U.S. in December 2024 Type of MortgageCurrent RateRate Reported a Week PriorRate Reported a Month Prior 6.706%6.561%6.786% 6.864%6.837%7.060% 6.374%6.276%6.420% 6.248%5.990%6.322% 6.384%6.384%6.452% ...
Current average mortgage interest rates in the U.S. in December 2024 Type of MortgageCurrent RateRate Reported a Week PriorRate Reported a Month Prior 6.706%6.561%6.786% 6.864%6.837%7.060% 6.374%6.276%6.420% 6.248%5.990%6.322% 6.384%6.384%6.452% ...