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Mortgage rates reported for December 11, 2024
| Mortgage rate | What the figure represents | Source and timing |
|---|---|---|
| 6.73% | Average 30-year fixed rate | FreeRateUpdate, reported accurate at 7:30 a.m. ET on December 11, 2024 |
| 6.07% | Average 15-year fixed rate | FreeRateUpdate, same dated report and snapshot |
| 6.67% | Average contract rate for 30-year fixed conforming loans, with 0.66 points | MBA figure reported by HousingWire for the week ending December 6, 2024 |
Why mortgage-rate reports show different numbers
Rate reports may use different collection windows, loan populations and pricing measures. FreeRateUpdate’s 6.73% is a time-stamped daily average. The 6.67% figure is a weekly average contract rate for conforming mortgages, reported with 0.66 points; it is not another measurement of the same daily rate.
Freddie Mac’s Primary Mortgage Market Survey (PMMS) is a separate weekly benchmark. Its 30-year fixed average was 6.69% on December 5 and 6.60% on December 12, 2024. Those are the survey readings for their stated dates, not a December 11 daily rate. Freddie Mac says PMMS draws on rates from thousands of mortgage applications submitted by lenders. It normally publishes on Thursdays, shifting to Wednesday when a U.S. holiday falls on a Thursday.
The PMMS scope is conventional, conforming, fully amortizing home-purchase loans, assuming a 20% down payment and excellent credit. That defined sample is not a quote for every borrower, loan type or down payment. When comparing published rates, check the fixed-rate term, source and surveyed population, daily or weekly measurement period, loan type, points and fees, and borrower assumptions.
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What the 6.73% rate means for a monthly payment
At FreeRateUpdate’s reported 6.73% 30-year rate, the publisher illustrated principal and interest of $647.27 per $100,000 borrowed. This is an example based on the reported rate, not an individualized quote or a complete housing payment; it excludes costs beyond principal and interest.
Recent rate context
Freddie Mac’s December 2024 outlook put the weekly 30-year fixed average at 6.08% in late September and 6.81% at the end of November. These readings show how much the weekly benchmark moved over the year, but neither replaces the December 11 daily figure. In its December 12 release, Freddie Mac Chief Economist Sam Khater said, “The 30-year fixed-rate mortgage decreased for the third consecutive week.”
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How to use a dated average when shopping
A national average can help with historical context, but it does not establish the rate available to you. Your actual offer depends on the lender and the details of your application. Compare personalized quotes from multiple lenders, making sure the loan term, points and fees are considered alongside the interest rate.
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