Today’s Mortgage Interest Rates Insights: 30-Year Remains 6.125%, 15-Year Dips to 5.490%
Thursday, 29 August 2024, 07:05
Current Mortgage Rates Overview
The median interest rate on a 30-year fixed-rate mortgage is 6.125% as of August 29, steady from the previous day.
15-Year Mortgage Rate Update
In contrast, the median interest rate for a 15-year fixed-rate mortgage has dropped to 5.490%, which may appeal to many borrowers.
Implications of Mortgage Rate Movements
- The unchanged rate for 30-year mortgages indicates stability in long-term financing.
- The decline in 15-year rates could incentivize refinances and new purchases.
- Homebuyers should consider these rate trends for optimizing their mortgage strategies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.