What are the mortgage rates today?

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    Jordan Moore
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    Team StellarFi
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    Mortgage rates can vary daily. As of November 14, 2023, the 30-year fixed mortgage rate stood at 8.07% – higher than the previous week’s 7.9%. This translates to around a $745/month mortgage payment for every $100,000 borrowed. Additionally, the 15-year fixed mortgage rate is 7.24%. This translates to $915/month for every $100,000 borrowed. 

    Mortgage rates have increased considerably over the past year from being at close to 6% in 2022 to reaching above 8% in 2023. Mortgage rates are determined by larger economic factors such as the overall economy, inflation, and the Federal Reserve. Personal factors that further decide the interest rate you pay include your debt-to-income ratio, credit score, cash on hand, and income.

    Several online mortgage rate calculators can help you get an idea of how much loan you may qualify for. To get the latest mortgage rates, consult reputable financial news sites like Forbes and CNBC.

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StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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