Mortgage Rates Stabilize After Recent Fluctuations

30-year fixed mortgage rates hold steady at 6.78%, while refinance rates see slight declines following recent volatility.

The average 30-year fixed mortgage rate paused at 6.78% after five consecutive days of increases, maintaining its highest level since early November.
Refinance rates for 30-year loans dipped slightly to 6.95%, marking the second consecutive day of minor declines.
Mortgage and refinance rates remain significantly higher than September lows but are well below the peaks seen in late 2023.
Jumbo 30-year mortgage refinance rates saw a notable increase, rising 14 basis points to 6.93%, while other loan types experienced minimal daily changes.
The Federal Reserve's recent rate cuts, including a 0.25 percentage point reduction in November, are expected to influence future mortgage rate trends, with another announcement anticipated later today.