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A 30-year fixed mortgage is a home loan with an interest rate that stays the same over a 30-year period. For example, on a 30-year mortgage for a home valued at $300,000 with a 20% down payment and an interest rate of 3.75%, the monthly payments would be about $1,111 (not including taxes and insurance).
The current average rate for a 30-year fixed mortgage is 6.80, the average rate for the benchmark 15-year fixed mortgage is 6.13 percent, and the average 5/1 ARM rate is 6.36 percent.
Today's national 30-year mortgage interest rate trends For today, Tuesday, December 03, 2024, the current average interest rate for the benchmark 30-year fixed mortgage is 6.91%, decreasing 12 ...
Rates on 30-year new purchase mortgages shed a notable 7 basis points Friday, lowering the national average to 6.68%. It's the first reading below 6.70% since Oct. 22.
A 30-year fixed-rate mortgage is a home loan repaid over 30 years with an interest rate that does not change. The 30-year period is your “loan term,” and usually gives you the lowest monthly payment compared to shorter terms. Mortgage interest rates on 30-year mortgages are often higher than shorter-term mortgages, like 15-year fixed-rate ...