Mortgage Rates Drop Gradually

This is a news story, published by Yahoo Finance, that relates primarily to the Federal Reserve’s news.

News about interest rates

For more interest rates news, you can click here:

more interest rates news

Yahoo Finance news

For more news from Yahoo Finance, you can click here:

more news from Yahoo Finance

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about interest rates, you might also like this article about

current mortgage rates

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest future mortgage rates news, mortgage interest rates news, news about interest rates, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

mortgage rates

Yahoo Finance

•

Business

Business & Economics

Mortgage and refinance rates today, December 31, 2024: Rates decrease across the board

Summary

Nutrition label

83% Informative

The 30-year fixed mortgage rate has dropped by eight basis points to 6.64% , and the 15-year .

Mortgage interest rates are expected to go down in 2025 , but the decreases will likely be gradual.

You can always refinance your mortgage later when rates are lower.

Refinance rates are usually higher than purchase rates.

The trajectory of future mortgage rates will largely depend on the Federal Reserve’s decision on whether or not to cut the federal funds rate at its 2025 meetings.

According to the CME FedWatch tool, it looks likely the fed funds rate will stay the same at the January meeting.

Mortgage rates will probably gradually drop throughout 2025 , but they're unlikely to plummet anytime soon.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive