Mortgage Rates Hit New Lows in December 2024

Mortgage rates have decreased, with the 30-year fixed rate dropping to 6.69% and the 15-year fixed rate to 5.96%, marking the lowest rates since October. The upcoming U.S. jobs report could influence future rate trends. Current national averages for mortgage and refinance rates vary, with 30-year fixed rates at 6.32% for purchases and 6.37% for refinances. Factors affecting rates include economic conditions and borrower credit profiles. Fixed-rate mortgages offer stability, while adjustable-rate mortgages may fluctuate based on economic factors.