Mortgage Interest Rates Forecast
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Mortgage rates this week
Mortgage rates fell slightly in the week ending Dec. 12. This continues a downward trend that rates have followed since Thanksgiving.
The 30-year fixed-rate mortgage averaged 6.51% APR, down eight basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.
The 15-year fixed-rate mortgage averaged 5.8% APR, down five basis points from the previous week's average.
The 5-year adjustable-rate mortgage averaged 7.27% APR, up two basis points from the previous week's average.
The latest Consumer Price Index (CPI) report from the Bureau of Labor Statistics showed that inflation rose 2.7% in November, keeping in line with forecaster expectations. With that last piece of the economic puzzle in place, Federal Reserve watchers are virtually certain that a 25-basis-point cut is coming at the next meeting on Dec. 18. Home shoppers should remember, however, that mortgage rates often move in anticipation of what the Fed will do — not necessarily after the fact. Rates may continue to trickle downward over the next few days, but after next week, any movement will be in accordance with expectations for 2025.
Mortgage loans from our partners
on New American Funding
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Mortgage loans from our partners
on New American Funding
on New American Funding