Explore mortgage rate trends with insights drawn from Freddie Mac’s Primary Mortgage Market Survey and Optimal Blue Mortgage Market Indices, providing a comprehensive snapshot of the ever-evolving landscape. As of Tue Jan. 2, 2024, this analysis delves into the average rates across various loan programs, enabling you to seamlessly explore rate shifts over the past week, month, and year.
| Rate type | Average Rate | 1W Change | 1M Change | 1Y Change | |
|---|---|---|---|---|---|
| 30-Year Fixed-Rate | 6.61% | -0.06% | -0.42% | -0.88% | Calculate Payment |
| 15-Year Fixed-Rate | 5.93% | -0.02% | -0.36% | -0.85% | Calculate Payment |
| 5/1 Adjustable Rate | 6.06% | 0.11% | 0.35% | 1.67% | Calculate Payment |
| FHA 30-Year Fixed-Rate | 6.41% | -0.04% | 6.41% | -0.35% | Calculate Payment |
| Jumbo 30-Year Fixed-Rate | 6.87% | -0.18% | 6.87% | -0.47% | Calculate Payment |
| VA 30-Year Fixed-Rate | 6.12% | 0.05% | 6.12% | -0.49% | Calculate Payment |
| USDA 30-Year Fixed-Rate | 6.66% | 0.16% | 6.66% | -0.16% | Calculate Payment |
The Current Average Mortgage Rates – Updated: Tue Jan. 2, 2024
According to data from Freddie Mac’s Primary Mortgage Market Survey and Optimal Blue Mortgage Market Indices, As of the latest data, mortgage rates continue to exhibit both upward and downward trends across various loan programs. Here’s a snapshot of the recent changes:
- 30-Year Fixed-Rate: The average rate for 30-Year Fixed-Rate is now at 6.61%. Over the past week, we’ve seen a decrease of -0.06%, while the rates have decreased by -0.42% over the past month. Looking back a year, the rate has decreased by -0.88%.
- 15-Year Fixed-Rate: The average rate for 15-Year Fixed-Rate is now at 5.93%. Over the past week, we’ve seen a decrease of -0.02%, while the rates have decreased by -0.36% over the past month. Looking back a year, the rate has decreased by -0.85%.
- 5/1 Adjustable Rate: The average rate for 5/1 Adjustable Rate is now at 6.06%. Over the past week, we’ve seen a slight increase of 0.11%, while the rates have risen by 0.35% over the past month. Looking back a year, the rate has risen by 1.67%.
- FHA 30-Year Fixed-Rate: The average rate for FHA 30-Year Fixed-Rate is now at 6.41%. Over the past week, we’ve seen a decrease of -0.04%, while the rates have risen by 6.41% over the past month. Looking back a year, the rate has decreased by -0.35%.
- Jumbo 30-Year Fixed-Rate: The average rate for Jumbo 30-Year Fixed-Rate is now at 6.87%. Over the past week, we’ve seen a decrease of -0.18%, while the rates have risen by 6.87% over the past month. Looking back a year, the rate has decreased by -0.47%.
- VA 30-Year Fixed-Rate: The average rate for VA 30-Year Fixed-Rate is now at 6.12%. Over the past week, we’ve seen a slight increase of 0.05%, while the rates have risen by 6.12% over the past month. Looking back a year, the rate has decreased by -0.49%.
- USDA 30-Year Fixed-Rate: The average rate for USDA 30-Year Fixed-Rate is now at 6.66%. Over the past week, we’ve seen a slight increase of 0.16%, while the rates have risen by 6.66% over the past month. Looking back a year, the rate has decreased by -0.16%.
Disclaimer: The information provided in this article is for general informational purposes only and should not be considered as financial advice. The content is based on data from Freddie Mac’s Primary Mortgage Market Survey and Optimal Blue Mortgage Market Indices. Mortgage rates are subject to change and may vary based on individual factors, including creditworthiness, loan amount, and location. Please note that the rates mentioned in this article are averages and may not reflect the rates offered by specific lenders or financial institutions. Additionally, the rates mentioned here may have changed since the publication date. It is recommended to consult with a qualified financial advisor or mortgage professional for personalized advice regarding mortgage rates and financial decisions. The accuracy and completeness of the information provided in this article are not guaranteed. The authors, publishers, and affiliates disclaim any liability for any errors, inaccuracies, or omissions in the content, or for any actions taken based on the information provided herein. Always conduct thorough research and consider seeking advice from qualified professionals before making financial decisions. Your financial situation and needs are unique, and you should make decisions based on your individual circumstances.