US Fed funds (effective)
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The overnight rate banks pay each other. Mortgage rates usually sit above this.
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What it costs to borrow in the United States. Mortgage quotes at a bank will differ with your credit score and down payment.
US Fed funds (effective)
—
The overnight rate banks pay each other. Mortgage rates usually sit above this.
US 10-year Treasury
4.65%
The bond market’s long-term rate. Home loans often follow this.
US 2-year Treasury
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Moves quickly when people change their mind about upcoming Fed cuts.
US 30-year mortgage
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Freddie Mac weekly average for a 30-year fixed home loan.
US 15-year mortgage
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Shorter loan, usually a lower rate than the 30-year.
Lenders price long home loans off long government bonds. When the 10-year yield jumps, new mortgages usually follow within days or weeks.
No. These are national averages. Your offer depends on credit, loan size, and the lender.