Mortgage rates today, Dec 27, 2023
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Today’s mortgage rates
Mortgage rates ticked lower yesterday but only by the smallest measurable amount. That makes seven consecutive business days on which those rates have effectively been becalmed.
First thing, it was looking as if mortgage rates today might fall, perhaps modestly. However, as always, that could change as the hours pass.
Current mortgage and refinance rates
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| Program | Mortgage Rate | APR* | Change |
|---|---|---|---|
| Conventional 30-year fixed | 7.08% | 7.095% | -0.005 |
| Conventional 15-year fixed | 6.385% | 6.41% | +0.005 |
| Conventional 20-year fixed | 6.86% | 6.88% | -0.03 |
| Conventional 10-year fixed | 6.055% | 6.085% | -0.005 |
| 30-year fixed FHA | 6.05% | 6.955% | Unchanged |
| 30-year fixed VA | 6.19% | 6.34% | +0.02 |
| 5/1 ARM Conventional | 6.35% | 7.655% | Unchanged |
| Rates are provided by our partner network, and may not reflect the market. Your rate might be different. Click here for a personalized rate quote. See our rate assumptions See our rate assumptions here. | |||
Should you lock your mortgage rate today?
Nothing’s certain when it comes to markets and mortgage rates. But, after nearly two years of relentless bad news for those rates, I finally see grounds for optimism. That’s because inflation is slowing more quickly than economists and investors were expecting. And I’m hoping for a sustainable, gently falling trend that could bring lower mortgage rates for many months.
So, my personal rate lock recommendations are:
- LOCK if closing in 7 days
- FLOAT if closing in 15 days
- FLOAT if closing in 30 days
- FLOAT if closing in 45 days
- FLOAT if closing in 60 days
However, with so much uncertainty at the moment, your instincts could easily turn out to be as good as mine — or better. So let your gut and your own tolerance for risk help guide you.
>Related: 7 Tips to get the best refinance rate
Market data affecting today’s mortgage rates
Here’s a snapshot of the state of play this morning at about 9:50 a.m. (ET). The data are mostly compared with roughly the same timethe business day before, so much of the movement will often have happened in the previous session. The numbers are:
- The yield on 10-year Treasury notes fell to 3.84% from 3.90%. (Good for mortgage rates.) More than any other market, mortgage rates typically tend to follow these particular Treasury bond yields
- Major stock indexes were rising this morning. (Bad for mortgage rates.) When investors buy shares, they’re often selling bonds, which pushes those prices down and increases yields and mortgage rates. The opposite may happen when indexes are lower. But this is an imperfect relationship
- Oil prices decreased to $74.90 from $75.49 a barrel. (Good for mortgage rates*.) Energy prices play a prominent role in creating inflation and also point to future economic activity
- Gold prices rose to $2,079 from $2,066 an ounce. (Neutral for mortgage rates*.) It is generally better for rates when gold prices rise and worse when they fall. Gold tends…
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