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Today’s Mortgage Rates Rise | December 6, 2021 – MONEY

Mortgage interest rates are up once again, with the average rate for a 30-year fixed-rate mortgage at 3.625% this morning. Refinance loan rates were also higher, with the average 30-year refinance rate moving up…….

Mortgage interest rates are up once again, with the average rate for a 30-year fixed-rate mortgage at 3.625% this morning. Refinance loan rates were also higher, with the average 30-year refinance rate moving up to 3.772%. Almost all other loan categories increased as well.

Despite the increases, mortgage rates are still near historic lows. Well-qualified borrowers should be able to take advantage of these rates and lock in comfortable monthly payments for either a home purchase or a mortgage refinance.

  • The latest rate on a 30-year fixed-rate mortgage is 3.573%. ⇓
  • The latest rate on a 15-year fixed-rate mortgage is 2.591%. ⇓
  • The latest rate on a 5/1 ARM is 2.183%. ⇓
  • The latest rate on a 7/1 ARM is 3.22%. ⇓
  • The latest rate on a 10/1 ARM is 3.404%. ⇓

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a 700 credit score — roughly the national average score — might pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate 8,000 lenders offered to applicants the previous business day. Freddie Mac’s weekly rates will generally be lower, since they measure rates offered to borrowers with higher credit scores.

30-year fixed-rate mortgage rates today

  • The 30-year rate is 3.573%.
  • That’s a one-day decrease of 0.03 percentage points.
  • That’s a one-month increase of 0.171 percentage points.

The 30-year fixed-rate mortgage is the most commonly sought-after home loan thanks to its steady interest rate, constant monthly payments and a long payback time that results in low and more affordable monthly payments. Compared to a shorter-term loan, however, the interest rate will typically be higher, so you’ll actually pay more for this type of loan over time.

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Average Mortgage Rates

Data based on US mortgage loans closed on Dec 3, 2021

Loan Type Dec 3 Last Week Change
15 Year Fixed Conventional 2.61% 2.67% 0.06%
30 Year Fixed Conventional 3.63% 3.63% 0.0%
7/1 ARM Rate 3.28% 3.0% 0.28%
10/1 ARM Rate 3.42% 3.6% 0.18%

Your actual rate may vary

15-year fixed-rate mortgage rates today

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