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On Monday, Sept. 30, 2024, the average interest rate on a 30-year fixed-rate mortgage dropped 11 basis points to 6.048% APR.
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On Monday, September 30, 2024, the current average interest rate for the benchmark 30-year fixed mortgage is 6.22%, up 5 basis points over the last seven days.
Borrowers looking for a 30-year fixed-rate purchase loan found rates averaging 6.363%, according to Money's daily rate survey. The 30-year refinance rate also edged lower and is averaging 6.487%. Freddie Mac's current rate for a 30-year fixed-rate mortgage was virtually unchanged, dropping 0.01 percentage points to an average of 6.08%.
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).
Here are the U.S. weekly average rates from Freddie Mac’s Primary Mortgage Market Survey, as of September 26, 2024: 30-year fixed-rate mortgage: 6.08%. 15-year fixed-rate mortgage: 5.16%. This year, mortgage rates were consistently below 7% until late April, when they crept up to 7.17%.
Average interest rates are on the low end compared to other lenders, according to the latest federal data. Offers a HELOC that can be used for a primary, second or investment home.
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Mortgage Calculator. Try different loan amounts, down payments, and interest rates to see how it changes monthly mortgage payments. Go To Mortgage Calculator. Don’t wait on rates. You could be missing out if you’re basing your next step on rates alone. Know the difference. A .25% rate change roughly equals a $30 difference in your monthly payment.