Mortgage Interest Rates Today, September 23, 2024 | Here's How Much Rates Have Dropped This Month [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
Rates are expected to fall further in 2024 and 2025 as the Fed cuts rates. Mortgage rates have been falling for almost five straight months now, and they're expected to keep dropping this year. Rates dropped substantially earlier last week but have ticked up slightly in recent days thanks in part to positive jobless claims data . However, rates remain low compared to where they were last month. So far in September, 30-year mortgage rates have averaged around 5.73%, according to Zillow data. This is down 32 basis points from last month. A year ago, rates were much higher. In September 2023, mortgage rates were above 7%. With a 7% rate on a $300,000 loan, your monthly mortgage payment would be $1,996 (not including taxes and insurance). With this month's rates, the payment on that same mortgage would be $1,747 — a savings of almost $250 a month. As rates continue to go down, more borrowers will be able to save on their mortgages, whether they're buying a home or refinancing.
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- Mortgage Interest Rates Today, September 27, 2024 | Rates Steady as Labor Market Continues to Strengthen [Business Insider]Business Insider
- Mortgage Interest Rates Today, September 26, 2024 | Rates Might Not Drop Much More This Year [Business Insider]Business Insider
- Mortgage Interest Rates Today, September 25, 2024 | How Much More Could Rates Drop? Watch the Labor Market [Business Insider]Business Insider
- Mortgage Interest Rates Today, September 24, 2024 | Where Will Rates Go Next? [Business Insider]Business Insider
- Mortgage Interest Rates Today, September 22, 2024 | Rates Are Slightly Up Following Fed Meeting [Business Insider]Business Insider
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