30-Year Mortgage Rates Fall to September Levels
Dropping to nearly their lowest level in three months, the 30-year fixed mortgage rate is now at 7.53%, as of December 4, and is just one point above its lowest mark since September 1.
According to Investopedia, the 30-year mortgage average’s historic 23-year high of 8.45% reached in October, and the following November peak of 8.13%, are fading further into the rearview mirror. With another dip Friday, the 30-year average is down to 7.53%, just one basis point above its recent low point of 7.52%. has pulled back considerably. Rates on 30-year loans have not been this low since the first of September.
Rates on 15-year new purchase loans also dropped Friday, subtracting 3 basis points. That lowers the 15-year average to 6.85% and in a range not seen since mid-August. In contrast, October saw 15-year rates surge to a 7.59% peak, its highest average since 2000.
