Mortgage Interest Rates Update for December 14, 2022
Rates Hold Steady Ahead of Federal Reserve Announcement
It’s been a bad 2022 for mortgage rates, but things might be looking up a bit heading into 2023.
Inflation has been the culprit behind the year’s big run-up in mortgage rates, but signs that inflation is cooling are helping to bring mortgage interest rates down. October and November both had year-over-year inflation numbers better than expected.
Let’s take a look at today’s average mortgage interest rates.
Today’s average 30-year fixed mortgage rate is 6.63%
The average 20-year fixed-rate mortgage currently sits at 6.53%
15-year mortgage rate: 6.00%
Today’s 10-year fixed mortgage rate is 6.11%
5/1 ARM rate: 5.49%