Mortgage Rates Today, Oct. 16
Today's Mortgage Rates, October 17, 2024 | Rates Drop Back Down
These are today's mortgage and refinance rates. Mortgage rates have eased this week, but we might not see them drop substantially until next year.
The Fed is cutting interest rates, so why are mortgage rates rising?
It’s been a month since the Federal Reserve shifted from fighting inflation with high interest rates to supporting the job market with the first in what is expected to be a series of rate cuts.
Mortgage Rates Today, Oct. 16: Median Rate Falls to 6.5%
As of Oct. 16, according to Credible data gathered from more than 500 U.S. lenders*, the median interest rate on a 30-year fixed-rate mortgage is 6.50%, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 5.75%, which is 0.13 percentage points lower than yesterday.
4 reasons mortgage rates go up and down
What many home buyers may not understand is multiple factors could cause mortgage rates to go up or down. Mortgage interest rates can also vary significantly between mortgage lenders. If you're considering taking out a home loan or a mortgage refinance, here's what you need to know about interest rates — and why they tend to fluctuate.
What level of impact do interest rate cuts have on mortgage rates?
After waiting years for interest rate cuts from the Federal Reserve, home buyers are now facing even higher mortgage rates.
Mortgage rates are back near 6.5%. Will they stay there?
Soon after the Fed lowered interest rates last month, mortgage rates reached a 2024 low point, but the news has not been as good since.
Will Mortgage Rates Ever Fall Below 3% Again?
Mortgage rates are creeping downward. But are sub-3% mortgages ever going to be in the cards again? Keep reading to find out.
3 big risks of waiting for mortgage interest rates to fall
While trying to time the market may land you a better interest rate, it can also come with some risks to consider.
The little-known factor that could help mortgage rates go lower
A component of mortgage rates known as the spread has been falling in recent weeks after years of being elevated. If it keeps dropping, that could help send rates lower in the months ahead.
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Today’s 30-year mortgage interest rates remain unchanged at 6.50%, while 30-year terms climb to 5.88%
The median interest rate on a 30-year fixed-rate mortgage is 6.50% as of October 14, which is unchanged from Friday.
Average US 30-year mortgage rate surges to 6.32%, adding pressure to buyers facing high home prices
The average rate on a 30-year mortgage in the U.S. surged to 6.32% this week, adding pressure on home buyers facing sky-high ...
First-Time Homebuyers Are Still Active Despite Higher Mortgage Rates
Key Takeaways Mortgage rates increased to their highest levels since August, according to the Mortgage Bankers Association.
With mortgage rates coming down, will you refinance your home? Here’s what to know
They might not know how to begin the process, or they don’t want the hassle. Then again, maybe they just aren’t paying attention to the fact that mortgage rates have finally started to fall. A year ...