Mortgage Rates Climb
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11hon MSN
Mortgage rates are the lowest they've been since 2022. Here's how to get one even lower now.
Mortgage interest rates are the lowest they've been since 2022, but there are multiple ways to get one even lower.
The rate on a 30-year fixed refinance decreased to 6.23% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.27%. On a 20-year mortgage refinance, the average rate is 5.
The average rate on the 30-year fixed mortgage fell this week to 6.17%, according to the latest Freddie Mac data released on Thursday. That is down from last week's reading of 6.19%.
The Federal Reserve cuts interest rates, but the 30-year fixed-rate mortgage rose 14 basis points higher. The 30-year went up from 6.13% to 6.27% per Mortgage News Daily after the Fed announcement bec
The current average mortgage rate on a 30-year fixed mortgage is 6.15%, the same as a week earlier, according to the Mortgage Research Center. For borrowers who want a shorter mortgage, the average rate on a 15-year fixed mortgage is 5.
The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year.
Mortgage rates are already at their lowest levels in over a year, so it remains to be seen whether the Federal Reserve's October rate cut will drive rates lower – or if the rate cut was already priced in.
Interest rates should continue their downward journey, as forecasters expect another rate cut from the Fed on Oct. 29. Are more cuts coming?