WEB Todays National Mortgage Interest Rate Trends

Todays Mortgage Rates

As of Saturday, August 3, 2024, the current average 30-year fixed mortgage interest rate is [current rate]. Here are the average annual percentage rates (APRs) on common mortgage options:

30-Year Fixed Mortgage

[Current APR]

15-Year Fixed Mortgage

[Current APR]

5/1 ARM Mortgage

[Current APR]

Mortgage Rate Changes

The impact of a 0.25% change in the interest rate depends on factors such as the loan amount, term, and interest rate. For example, on a $250,000 loan with a 30-year term at an interest rate of [previous rate], the monthly payment would change by [amount].

30-Year Fixed Mortgage

A 30-year fixed mortgage is a home loan with an interest rate that remains fixed for the entire 30-year term. This type of mortgage offers predictability and stability in monthly payments, making it suitable for borrowers who value financial stability.