The average 30-year fixed rate mortgage is 6.17% today, unchanged since yesterday. The 15-year fixed mortgage rate stands at 5.32%, the same as one day ago. The 30-year FHA mortgage now averages 5.62%, having risen by 0.01. Meanwhile, the 30-year jumbo mortgage rate is 6.41%, reflecting a decrease of 0.22%.
The bigger picture
Major markets yesterday shrugged off the weekend's military action by U.S. forces in Venezuela. Indeed, after some initial caution, all the key stock indices around the world rose that day.
Of course, nobody knows the long-term implications of the action, and markets might yet react once the fog of war clears and the nitty-gritty of nation-building (or whatever has been planned) gets underway. But, for now, investors are treating it as a non-event. And we doubt that will change in the coming weeks, provided the government's strategy works out as intended.
According to MarketWatch yesterday, "While the headline figure of total capex [capital expenditure] 'far exceeds the most conservative level to restore Venezuela’s oil industry,' which stands at $180 billion to $200 billion, Societe Generale strategists pointed out that Venezuela has nationalized its oil industry 'not just once, but twice' before. That will make the oil majors 'incredibly cautious about getting back into the country,' they said."
By far the most important report of the week (and probably of the month) lands on Friday in the shape of the December jobs report. But we're due some lesser reports tomorrow that could affect mortgage rates.
However, we'll be surprised if today's lone report has much impact on those rates. Still, some movement is possible, so scroll on down to discover more about it.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.17% | 6.2% | +-0% | -0.06% |
| 15-Year Fixed | 5.32% | 5.36% | +-0% | -0.06% |
| 30-Year Fixed FHA | 5.62% | 6.83% | +0.01% | +0.03% |
| 30-Year Fixed VA | 5.72% | 5.86% | -0.03% | +0.08% |
| 30-Year Fixed USDA | 5.62% | 5.76% | -0.04% | +0.06% |
| 30-Year Fixed Jumbo | 6.41% | 6.43% | -0.22% | -0.06% |
| 5/6 Year ARM | 6.03% | 6.07% | -0.01% | -0.02% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.22% | 6.24% | -0.02% | -0.09% |
| 15-Year Fixed | 5.31% | 5.35% | +0% | -0.03% |
| 30-Year Fixed FHA | 5.56% | 6.77% | +-0% | -0.01% |
| 30-Year Fixed VA | 5.78% | 5.91% | -0.03% | +0.1% |
| 5/6 Year ARM | 6.03% | 6.06% | -0.01% | -0.03% |
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 just one economic report on today's MarketWatch economic calendar. No market expectations are published for December's purchasing managers' index (PMI) from S&P Global, which means we can't help you interpret how today's actual figures might affect mortgage rates.
Typically, those rates rise on news that is better than expected for the economy, and fall when that news is worse than expected. The best we can do is tell you that the PMI stood at 52.9 at its last reading.
