Mortgage rates are constantly changing, but they have remained in a historically low range for quite some time. If you’re in the market for a mortgage, it may make sense to go ahead and lock if you see a rate you like. Just make sure you’ve looked around for the best rate first.
30-year fixed Mortgages
The average rate you’ll pay for a 30-year fixed mortgage is 3.86 percent, a decrease of 11 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was higher, at 4.04 percent.
At the current average rate, you’ll pay a combined $469.38 per month in principal and interest for every $100,000 you borrow.