Today's mortgage rates plummet for 15- and 30-year terms | July 12, 2024
What influenced today's drop in mortgage rates?
Today's drop in mortgage rates was influenced by a combination of factors, including cooling inflation, market expectations of a future Federal Reserve rate cut, and a decline in the benchmark 10-year US Treasury yield. These factors contributed to a more favorable environment for mortgage rates, providing relief for potential homebuyers.
What is the current 30-year fixed mortgage rate?
As of July 12, 2024, the current 30-year fixed mortgage rate is 6.625%, which is 0.250 percentage points lower than yesterday. It's important to compare different lenders' current interest rates, terms, and fees to ensure you get the best deal when applying for a mortgage loan.
What is the current 15-year fixed mortgage rate?
The current 15-year fixed mortgage rate, as of July 12, 2024, is 5.875%. This is 0.115 percentage points lower than yesterday's rate. It's important to compare different lenders' current interest rates, terms, and fees to ensure you get the best deal when applying for a mortgage loan.