Daily Mortgage Rates 8 December 2023 - Study95

Daily Mortgage Rates 8 December 2023 :

Daily Mortgage Rates today 8 December 2023. Today 30 Year Mortgage rate is 7.04% and 15 Year Fixed rate is 6.48%.  Policies and programs, such as those related to home buying incentives or mortgage subsidies, can influence demand for mortgages and, consequently, mortgage rates.

Mortgage Rates 8 December 2023

Daily Mortgage Rates 8 December 2023 :-

30-year fixed mortgage rates

The interest rate today for a 30-year loan is 7.46%. This means if you borrow $100, you'll need to pay back $107.46 over a year.

Last week, this interest rate was a bit higher at 7.55%. But hey, good news! It's gone down a bit this week.

If we look back a month, the rate was even higher at 7.90%, so it's come down from there.

But here's the interesting part: If we go back a whole year, people were getting loans at a lower interest rate, around 5.83%. So, the rates have gone up compared to last year.


15-year fixed mortgage rates :

The interest rate USA Mortgage today for a 15-year loan is 6.70%. This means if you borrow $100, you'll have to pay back $106.70 over a year.

Now, if we look back to last week, the interest rate was a tiny bit higher at 6.74%. But no worries; this week it's a bit lower.

And if we go back a month, the rate was even higher at 7.10%, so it's come down from there.

But here's the comparison to last year: A year ago, people were getting loans at a lower interest rate, around 5.18%. So, today's rates are higher compared to last year.

Now, they give you an idea of what your monthly payment might look like. At the current rate, if you borrow $100,000, you'll pay around $885 each month. Last week, it was a bit higher at $888. It's like they're telling you how much you'd have to set aside every month to pay back the loan.

30 Year Jumbo Mortgage Rates :

The interest rate today for a 30-year jumbo loan is 7.50%. So, if you borrow $100, you'd need to pay back $107.50 over a year.

Now, if we look back to last week, the interest rate was a bit higher at 7.63%. But no worries; this week it's a bit lower.

And if we check a month ago, the rate was even higher at 7.83%, so it's come down from there.

Now, here's the comparison to last year: A year ago, people were getting jumbo loans at a lower interest rate, around 5.57%. So, today's rates are more than 2 percentage points higher compared to last year.

Now, they give you an idea of what your monthly payment might look like. At the current rate, if you borrowed $100,000, you'd pay around $702 each month. Last week, it was a bit higher at $712. It's like they're telling you how much you'd have to set aside every month to pay back the loan for your more expensive house.

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