The interest rate on mortgages varies depending on several factors, including the type of mortgage, the lender, and the borrowers creditworthiness. As of Friday, November 10, 2023, the current average interest rate for a 30-year fixed mortgage is 7.87%, according to Bankrate. However, its important to note that this rate can change frequently and may vary depending on the lender and the borrowers specific circumstances. Mortgage rates are typically influenced by economic factors such as inflation, the Federal Reserves monetary policy, and the overall state of the housing market. Its important for borrowers to shop around and compare rates from multiple lenders to find the best deal.