The average 30-year fixed rate mortgage was 6.16% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 5.32%, the same as one the day before. The 30-year FHA mortgage averaged 5.59% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 6.38%, reflecting no change.
The bigger picture
Starting with today's pending home sales data for November, this week is light on market-moving economic reports. It's even slower than last week was.
Indeed, the event most likely to affect mortgage rates isn't an economic report at all: It's tomorrow's release of the minutes of the Federal Reserve's rate-setting body's last meeting. That's the Federal Open Market Committee or FOMC.
All this week's reports are relative lightweights. In theory, any economic data can have an impact on mortgage rates if it contains sufficiently shocking figures. But, in practice, we'll be beyond surprised if today's, tomorrow's and Wednesday's have any perceptible effect. And none is scheduled for release on Thursday or Friday.
You might think this is bad because it means mortgage rates are unlikely to fall far. But look on the bright side. They probably won't go up much either.
Having said that, mortgage rates can move for reasons besides economic reports. For example, a peace deal between Russia and Ukraine might be helpful, while surprise announcements about higher tariff rates or a U.S. war with Venezuela (we're not expecting any) might have the opposite effect.
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Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.16% | 6.19% | +0% | -0.04% |
| 15-Year Fixed | 5.32% | 5.37% | +0% | +0.01% |
| 30-Year Fixed FHA | 5.59% | 6.8% | +0% | +0.11% |
| 30-Year Fixed VA | 5.68% | 5.82% | +0% | +0.08% |
| 30-Year Fixed USDA | 5.57% | 5.71% | +0% | +0.06% |
| 30-Year Fixed Jumbo | 6.38% | 6.4% | +0% | -0.35% |
| 5/6 Year ARM | 6.08% | 6.12% | +0% | +0.08% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.21% | 6.23% | +0% | -0.04% |
| 15-Year Fixed | 5.29% | 5.33% | +0% | +0% |
| 30-Year Fixed FHA | 5.55% | 6.76% | +0% | +0.11% |
| 30-Year Fixed VA | 5.74% | 5.87% | +0% | +0.08% |
| 5/6 Year ARM | 6.06% | 6.1% | +0% | +0.06% |
What's coming up?
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates. News items concerning employment, inflation, tariffs and deficit funding are especially influential at the moment.
Mortgage rates today
There is one economic report on today's MarketWatch economic calendar. That's November's pending home sales, due at 10 a.m. Eastern.
Those sales rose 1.9% in October, but MarketWatch is yet to update market expectations for this week's reports.
