Mortgage Rates Today, Nov. 25, 2024: Four Things That Could Make Thanksgiving Week Bumpy for Rates
The average 30-year fixed rate mortgage is 6.78% today, a decrease of 0.14% since yesterday. The 15-year fixed mortgage rate stands at 5.87%, down by 0.12%. The 30-year FHA mortgage now averages 6.02%, having dropped by 0.21. Meanwhile, the 30-year jumbo mortgage rate is 7.3%, reflecting a decrease of 0.05%.
In brief
There are no reports on today's economic calendar. So, if mortgage rates today move, they'll likely be responding to other things: bond market sentiment, stock market rises or falls (indirectly), or geopolitical news that might affect the economy.
Tomorrow morning brings three economic reports (details below) but only one typically changes mortgage rates and then only a bit. However, tomorrow afternoon is different.
That's when the Federal Reserve publishes the minutes of the Nov. 7 meeting of its rate-setting body. By then, it was clear that President-elect Donald Trump had taken the White House, though not that there had been a clean red sweep of both houses of Congress, too. Investors will be keen to hear the Fed's take on the potential economic consequences of the presidential election.
We're due an important inflation report on Wednesday, which could certainly affect mortgage rates if it contains unexpected numbers.
That leaves two other things that could create volatility this week. The first is the fact that experienced investors often take extended breaks around Thanksgiving and Christmas. And that can see trades generated by greener and less cool heads. Just sometimes those can create exaggerated movements in stocks, bonds and mortgage rates.
And, finally, this week includes the end of the month. Many investors use month ends as an opportunity to clean up their portfolios, making trades that are down to their own internal needs rather than external, market-sensitive data or news. This phenomenon is unpredictable and may or may not be noticeable.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.78% | 6.82% | -0.14% | -0.06% |
| 15-Year Fixed | 5.87% | 5.94% | -0.12% | -0.02% |
| 30-Year Fixed FHA | 6.02% | 6.85% | -0.21% | -0.17% |
| 30-Year Fixed VA | 6.09% | 6.24% | -0.21% | -0.14% |
| 30-Year Fixed USDA | 6.01% | 6.15% | -0.23% | -0.13% |
| 30-Year Fixed Jumbo | 7.3% | 7.33% | -0.05% | +0.11% |
| 5/6 Year ARM | 6.73% | 6.77% | +0.05% | +0.18% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.76% | 6.8% | -0.14% | -0.05% |
| 15-Year Fixed | 5.73% | 5.79% | -0.11% | +0.01% |
| 30-Year Fixed FHA | 5.99% | 6.83% | -0.22% | -0.19% |
| 30-Year Fixed VA | 6.08% | 6.23% | -0.24% | -0.16% |
| 5/6 Year ARM | 6.8% | 6.87% | +0.13% | +0.05% |
Coming up
Mortgage rates today and tomorrow
Economic reports won't create waves for mortgage rates today. None is scheduled.
Tomorrow brings three reports:
- S&P Case-Shiller home price index (20 cities) for September
- October new home sales
- November consumer confidence — Markets are expecting that to rise to 113.0 from 108.7 in October
Markets rarely respond much to real-estate data, so consumer confidence figures are most likely to affect mortgage rates tomorrow. We'd like an appreciably lower figure than 113.0 because that's more likely to exert some downward pressure on mortgage rates.
However, as we said above, if anything is likely to move mortgage rates far tomorrow, it's the Fed's meeting minutes.
Later in the week
