Mortgage Interest Rates Today, March 23, 2024 | Rates End the Week a Little Lower [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
Average 30-year mortgage rates are currently hovering in the mid-6% range, according to Zillow data. Though rates have remained relatively high for most of March, they're still likely to go down later this year . On Wednesday, the Federal Reserve signaled that it still expects to cut the federal funds rate three times this year. Once the Fed cuts rates, mortgage rates should start to trend down, too. Right now, investors believe that the first cut could come as soon as June, according to the CME FedWatch Tool . This means that summer homebuyers might be able to snag lower mortgage rates compared to those who buy earlier in the homebuying season. Current Mortgage Rates Mortgage type Average rate today 30-year fixed 20-year fixed 15-year fixed 7/1 ARM 5/1 ARM 30-year FHA 30-year VA Current Refinance Rates Mortgage type Average rate today 30-year fixed refinance 20-year fixed refinance 15-year fixed refinance 7/1 ARM refinance 5/1 ARM refinance 3
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