Mortgage Rates Fall Today

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current mortgage rates

Yahoo Finance

•

Business

Business & Economics

Mortgage and refinance rates today, January 28, 2024: Rates drop ahead of Fed meeting

Summary

Nutrition label

84% Informative

Most mortgage rates have decreased today .

The average 30-year fixed rate is down by seven basis points to 6.67% , and the 15-year rate is 5.97% .

Experts aren't forecasting a fed funds rate cut this week (or at the next few meetings), so mortgage rates wouldn't decrease due to a lower Fed rate right now.

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 is all but guaranteed the fed funds rate will stay the same at the January meeting.

Today 's 30-year fixed rate for both purchases and refinances is 6.67% ..

VR Score

Informative language

Neutral language

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informal

Language

English

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not offensive