Unlock Your Dream Home: December 26, 2024 Mortgage Rates Revealed!

Are you in the market for a new home or looking to refinance your mortgage? If so, understanding today’s mortgage rates is absolutely essential. A slight shift in borrowing costs can have a substantial impact on your financial future, making it crucial to stay updated. As we step into December 26, 2024, mortgage rates have been anything but stable. Let’s dive into the current landscape and empower your decision-making process!

Mortgage Rates You Need to Know: December 26, 2024

Must-Know Highlights

Highlight	Details
Current Rates	The 30-year fixed mortgage rate sits at a competitive 6.73%, while the 15-year fixed rate is at 6.14%.
Trend Insights	Recent upticks in rates hint at a trend that could continue into 2025.
Mortgage Types	Get familiar with fixed vs. adjustable rates to determine what aligns best with your financial goals.
Rate Influencers	Your credit score, economic conditions, and down payment size play pivotal roles in shaping your mortgage rate.
Refinancing Rates	In the refinancing realm, the 30-year fixed rate is currently at 6.86%, slightly higher than purchase rates.

Unpacking Today’s Mortgage Rates

As of December 26, 2024, mortgage rates have experienced a minor rebound after a brief decline. Here’s the scoop on current national averages:

Mortgage Type	Current Rate
30-Year Fixed	6.73%
20-Year Fixed	6.78%
15-Year Fixed	6.14%
5/1 Adjustable-Rate Mortgage	6.81%
7/1 Adjustable-Rate Mortgage	6.75%
30-Year VA	6.19%
15-Year VA	5.57%
5/1 VA	6.38%

Today’s Mortgage Refinance Rates

If refinancing is on your radar, here are the current rates to consider:

Refinance Type	Current Rate
30-Year Fixed	6.86%
20-Year Fixed	6.58%
15-Year Fixed	6.07%
5/1 Adjustable-Rate Mortgage	6.14%
7/1 Adjustable-Rate Mortgage	6.64%
30-Year VA	6.19%
15-Year VA	5.96%
5/1 VA	5.79%

These figures provide a clear picture of where rates are currently headed, with indications pointing towards