On the date of Wednesday, December 11, 2024, the prevalent loan-790">average interest rate for the benchmark 30-year fixed mortgage stands at 6.73%, marking a 7-basis-point drop from the previous week. For homeowners contemplating refinancing, the national average interest rate for a 30-year fixed refinance loan today hovers at 6.75%, a modest 5-basis-point decrease over the past seven days. Mortgage rates have danced up and down but remain stubbornly high. In the year 2024, pundits had forecasted a gradual descent for the 30-year mortgage rate, ultimately dipping below the 6 percent mark. However, mortgage rates are a whimsical beast, constantly fluctuating, and numerous variables could intervene between now and the year's end, altering those projections. Keep abreast of our mortgage rates forecast for the latest updates.
30 year mortgage rates today refinance
How to Evaluate 30-Year Fixed Refinance Rates
A comprehensive national survey of weekday mortgage interest rates from lenders across the United States brings you the freshest rates available. This platform offers you the latest marketplace average interest rates for a myriad of purchase loans. The interest rate table beneath is updated daily, ensuring you have the most current purchase rates at your fingertips when selecting a home loan. APRs and rates assume no existing relationship or automatic payments. These averages cater to a customer profile featuring a 740 FICO score and a single-family dwelling. For deeper insights, refer to Bankrate's understanding of rate averages.
Mortgage rates and closing costs can swing widely between lenders, so shopping around might just put money back in your pocket. According to Freddie Mac research, borrowers could save an average of 1,500 over the loan′s life span by obtaining one additional rate quote,and an average of3,000 by seeking out five quotes. (Freddie Mac also noted that the benefits of shopping around had amplified during the volatile rates of 2022.)
Bankrate is your ally in comparing deals and uncovering the best 30-year refinance rate.
| Product | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed Rate | 6.75% | 6.79% |
| 30-Year Fixed-Rate VA | 7.53% | 7.56% |
| 30-Year Fixed-Rate FHA | 7.10% | 6.79% |
| 30-Year Fixed-Rate Jumbo | 6.81% | 6.86% |
30 year mortgage rates today california
Current Mortgage Interest Rates in California
As of Wednesday, December 11, 2024, mortgage interest rates in California stand at 6.88% for a 30-year fixed mortgage and 6.08% for a 15-year fixed one.
As per the California Association of Realtors, the median sale price of a single-family home in California soared 6.5 percent year-over-year to 886,560 by July 2024.However,if you′re open to exploring different parts of California.
Refinance Rates in California
In June 2024, over 12,000 mortgages were refinanced in California, according to ATTOM Data Solutions. While refinance rates are currently much higher than they were in early 2021, they have begun to decline. If you recently purchased a home with a mortgage rate of 7 or 8 percent, keep a close eye on the rates as refinancing could become a viable option if they drop sufficiently in the near future.
If you've owned your California property for a long time, you likely have much more equity to tap into now. This equity can pave the way for a cash-out refinance to help you achieve your financial goals. As of the third quarter of 2024, ATTOM's data indicates that more than half of the properties in California are considered "equity-rich."
| Product | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed Rate | 6.73% | 6.77% |
| 15-Year Fixed Rate | 6.07% | 6.15% |
| 5-1 ARM | 6.25% | 7.09% |
| 30-Year Fixed Rate FHA | 6.88% | 6.93% |
| 30-Year Fixed Rate VA | 6.89% | 6.93% |
| 30-Year Fixed Rate Jumbo | 6.78% | 6.83% |
30 year mortgage rates today texas
| Product | Interest Rate | APR |
|---|---|---|
| 30-year fixed-rate | 6.489% | 6.571% |
| 20-year fixed-rate | 6.244% | 6.345% |
| 15-year fixed-rate | 5.599% | 5.732% |
| 10-year fixed-rate | 5.572% | 5.756% |
| 7-year ARM | 7.162% | 7.464% |
| 5-year ARM | 7.126% | 7.479% |
| 30-year fixed-rate FHA | 5.844% | 6.659% |
| 30-year fixed-rate VA | 5.657% | 6.021% |
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| Category | Details |
|---|---|
| Loan Type | 30-Year Fixed Rate |
| Credit Score | 740 |
| Property Type | Single Family |
| Occupancy | Primary Residence |
| Location | Austin, TX |
| Escrow Account | Required |
| Down Payment | 20% |
| Loan Amount | $320,000 |
| Loan Term | 30 Years |
| Discount Points | 0.875 (or $2,800 due at closing) |
| APR | 6.527% |
| Interest Rate | 6.375% |
| Monthly Payment | $1,996 |
| Additional Notes | Includes $0 mortgage insurance. Excludes taxes and hazard insurance; total payment will be higher. |
30 year mortgage rates today massachusetts
Current Mortgage Rates in Massachusetts: A Snapshot for December 11, 2024
As of Wednesday, December 11, 2024, Massachusetts residents are facing mortgage interest rates of 6.79% for a 30-year fixed loan and 6.33% for a 15-year fixed one. While these rates may seem steep compared to the enticing sub-3% rates we witnessed in early 2021, they are a breath of fresh air compared to the heights buyers were scaling in the fall of 2023.
For those seeking affordable housing in the most sought-after corners of Massachusetts, the hunt may feel akin to searching for a needle in a haystack. By August 2024, the median sales price for single-family homes in the state had soared to 654,450,whilecondosfetchedamedianpriceof550,000, according to data from the Massachusetts Association of Realtors. Massachusetts has always been a pricey place to hang your hat, but these days, it's an especially challenging market: As of August's dawn, the number of homes available for purchase in the state was at its lowest point in two decades.
Refinance Opportunities for Massachusetts Homeowners
If you're a Massachusetts homeowner who bought a property in the fall of 2023, the rates have dipped enough to make refinancing a viable option for securing a lower interest rate. And if you've been in your abode for an extended period, it's worth assessing your home's worth. With property values trending upward for an extended stretch, you might have accumulated a considerable amount of equity. A cash-out mortgage refinance could allow you to tap into this valuable asset to propel your financial aspirations further.