Rates increase | Today's mortgage rates for November 26, 2024

Mortgage rates moved higher for all types of loans compared to a week ago, according to Bankrate data. Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans rose.

Rates last updated November 26, 2024.

The rates listed above are averages based on the assumptions here. Actual rates available across the site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Tuesday, November 26th, 2024 at 7:30 a.m. ET.

Market mortgage rates fluctuate as the economy evolves, policymakers and investors digest new data and lenders decide how much risk they’re willing to tolerate on a given day.

That includes Federal Reserve decisions. Since the central bank started cutting interest rates, mortgage rates have climbed, rather than retreat. That’s because the Fed doesn’t outright determine fixed mortgage rates. Instead, they increase or decrease mostly with the 10-year Treasury yield, the effective yield rate on 10-year Treasury notes. The 10-year yield rises when there’s less demand for notes — and this tends to happen when investors feel confident in the economy.

Historical mortgage rates: How do today’s rates compare to years past?

The Fed is meeting once again in December, when policymakers will share economic projections and a decision on rates.

Still, your housing needs might change regardless of the Fed and yields. If you're in a position to buy or sell a home now, it might be better to make a move than try to wait out the market. Wherever prevailing rates are, shop lenders to help uncover the best deal.

30-year mortgage increases, +0.07%

The average rate for a 30-year fixed mortgage for today is 7.03 percent, up 7 basis points since the same time last week. Last month on the 26th, the average rate on a 30-year fixed mortgage was lower, at 6.86 percent.

At the current average rate, you'll pay principal and interest of $667.32 for every $100,000 you borrow. That's up $4.70 from what it would have been last week.

There are many advantages to choosing a fixed-rate mortgage when buying new house, including predictable mortgage payments.

Learn more: What is a fixed-rate mortgage and how does it work?

15-year mortgage rate climbs, +0.05%

The average rate for a 15-year fixed mortgage is 6.30 percent, up 5 basis points over the last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost around $860 per $100,000 borrowed.

5/1 ARM rate moves upward, +0.08%

The average rate on a 5/1 adjustable rate mortgage is 6.57 percent, ticking up 8 basis points over the last week.

Monthly payments on a 5/1 ARM at 6.57 percent would cost about $637 for each $100,000 borrowed over the initial five years.

Jumbo mortgage rate increases, +0.03%

Today's average rate for jumbo mortgages is 7.08 percent, an increase of 3 basis points since the same time last week. This time a month ago, the average rate on a jumbo mortgage was below that at 6.81 percent.

At the current average rate, you'll pay $670.68 per month in principal and interest for every $100,000 you borrow. Compared to last week, that's $2.02 higher.

30-year mortgage refinance rate trends higher, +0.09%

The average 30-year fixed-refinance rate is 6.99 percent, up 9 basis points over the last week. A month ago, the average rate on a 30-year fixed refinance was lower at 6.86 percent.

At the current average rate, you'll pay $664.63 per month in principal and interest for every $100,000 you borrow. That's up $6.03 from what it would have been last week.

When will mortgage rates go down?

Mortgage rates have only gone up since the Fed started cutting rates in September. As of Nov. 20, the average 30-year fixed mortgage rate was 7.02 percent — up over 80 basis points from the September meeting, according to Bankrate data.

“Add in the proposed Trump tariffs, and there’s some real concern that inflation isn’t whipped, and the expected big Fed rate cuts aren’t as much a sure thing as they were just a few weeks ago,” says Sean Salter of Middle Tennessee State University, who expects rates to further trend upward in the coming weeks.

More on current mortgage rates

• Mortgage rate trend predictions for this week
• Latest mortgage news for this week
• Compare current mortgage rates

Methodology

Bankrate displays two sets of rate averages that are produced from two surveys we conduct: one daily (“overnight averages”) and the other weekly (“Bankrate Monitor averages”).

The rates on this page represent our overnight averages. For these averages, APRs and rates are based on no existing relationship or automatic payments.

Learn more about Bankrate’s rate averages, editorial guidelines and how we make money.