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United States 30 Year Mortgage Rate

Price

6.917 %
Change +/-
-0.143 %
Percentage Change
-2.04 %

The current value of the 30 Year Mortgage Rate in United States is 6.917 %. The 30 Year Mortgage Rate in United States decreased to 6.917 % on 6/1/2024, after it was 7.06 % on 5/1/2024. From 4/1/1971 to 6/26/2024, the average GDP in United States was 7.73 %. The all-time high was reached on 10/8/1981 with 18.63 %, while the lowest value was recorded on 1/6/2021 with 2.65 %.

Source: Freddie Mac

30 Year Mortgage Rate

  • 3 years

  • 5 years

  • 10 years

  • 25 Years

  • Max

30-Year Mortgage Rate

30 Year Mortgage Rate History

DateValue
6/1/20246.917 %
5/1/20247.06 %
4/1/20246.993 %
3/1/20246.82 %
2/1/20246.812 %
1/1/20246.64 %
12/1/20236.815 %
11/1/20237.442 %
10/1/20237.62 %
9/1/20237.2 %
1
2
3
4
5
...
64

Similar Macro Indicators to 30 Year Mortgage Rate

NameCurrentPreviousFrequency
🇺🇸
15-Year Mortgage Rate
5.99 %6 %frequency_weekly
🇺🇸
Average House Prices
501,000 USD486,500 USDMonthly
🇺🇸
Average Mortgage Size
405,490 USD405,400 USDfrequency_weekly
🇺🇸
Building Permits
1.425 M 1.47 M Monthly
🇺🇸
Building Permits MoM
-3.1 %4.6 %Monthly
🇺🇸
Case-Shiller Home Price Index
333.21 points329.95 pointsMonthly
🇺🇸
Case-Shiller Home Price Index MoM
1.4 %1.6 %Monthly
🇺🇸
Case-Shiller Home Price Index YoY
7.2 %7.5 %Monthly
🇺🇸
Construction Spending
-0.1 %0.3 %Monthly
🇺🇸
Existing Home Sales
3.84 M 3.88 M Monthly
🇺🇸
Existing Home Sales MoM
-1 %-2 %Monthly
🇺🇸
Home Price Index MoM
0 %0.3 %Monthly
🇺🇸
Homeownership Rate
65.6 %65.6 %Quarter
🇺🇸
Housing Index
424.3 points423.3 pointsMonthly
🇺🇸
Housing Price Index YoY
6.3 %6.7 %Monthly
🇺🇸
Housing starts
1.354 M units1.361 M unitsMonthly
🇺🇸
Housing Starts MoM
-0.5 %7.8 %Monthly
🇺🇸
MBA Mortgage Market Index
212 points210.4 pointsfrequency_weekly
🇺🇸
MBA Mortgage Refinancing Index
552.4 points552.7 pointsfrequency_weekly
🇺🇸
MBA Purchase Index
133.3 points130.8 pointsfrequency_weekly
🇺🇸
Mortgage applications
0.8 %0.9 %frequency_weekly
🇺🇸
Mortgage Interest Rate
6.93 %6.94 %frequency_weekly
🇺🇸
Mortgage Originations
448.31 B USD374.11 B USDQuarter
🇺🇸
Multi-family Housing Starts
278,000 units310,000 unitsMonthly
🇺🇸
NAHB Housing Market Index
42 points43 pointsMonthly
🇺🇸
National House Price Index
322.25 points321.205 pointsMonthly
🇺🇸
New Home Sales
619,000 units698,000 unitsMonthly
🇺🇸
New Home Sales MoM
-11.3 %2 %Monthly
🇺🇸
Pending Home Sales
-6.6 %-7.4 %Monthly
🇺🇸
Pending Home Sales MoM
-2.1 %-7.7 %Monthly
🇺🇸
Price-Rent Ratio
134.247 134.659 Quarter
🇺🇸
Residential property prices
4.67 %5.27 %Quarter
🇺🇸
Single-family home prices
404,500 USD414,200 USDMonthly
🇺🇸
Single-Family Home Starts
982,000 units1.036 M unitsMonthly
🇺🇸
Total Housing stock
1.39 M 1.37 M Monthly

The Primary Mortgage Market Survey (PMMS) is concentrated on conventional, conforming, fully amortizing home purchase loans for borrowers with a 20 percent down payment and excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. This interest rate represents the charge a lender would impose on a qualified borrower, exclusive of the fees and points required by the lender. This commitment rate pertains only to conventional financing on conforming mortgages with loan-to-value ratios of 80 percent or less.

What is 30 Year Mortgage Rate?

The "30 Year Mortgage Rate" is a critical economic indicator that holds significant implications for both the housing market and the broader economy. Understanding its dynamics is essential for homeowners, prospective buyers, investors, and policymakers alike. At Eulerpool, where we specialize in providing detailed and accurate macroeconomic data, the 30 Year Mortgage Rate occupies a pivotal place in our array of financial indicators. The 30 Year Mortgage Rate represents the average interest rate on a 30-year fixed-rate mortgage. This rate is a vital component of the housing market, as it determines the cost of borrowing for home purchases over an extended period. As such, the 30 Year Mortgage Rate significantly influences the affordability of housing, the demand for home loans, and overall home ownership rates. One of the primary factors affecting the 30 Year Mortgage Rate is the general economic condition. During periods of economic growth, interest rates generally rise due to increased demand for credit, which includes mortgage loans. Conversely, during economic downturns, interest rates tend to decline as the demand for credit decreases and central banks often lower rates to stimulate economic activity. The Federal Reserve, for instance, plays a critical role in influencing mortgage rates through its monetary policies. By adjusting the federal funds rate, the Federal Reserve indirectly impacts mortgage rates as financial institutions alter their lending rates in response to changes in the cost of borrowing. In addition to economic conditions, inflation expectations significantly impact the 30 Year Mortgage Rate. Mortgage lenders consider future inflation when setting rates, as inflation erodes the purchasing power of the interest payments they receive. Therefore, when inflation is expected to rise, lenders demand higher interest rates to compensate for the anticipated loss in purchasing power. This relationship underscores the importance of inflation indicators, such as the Consumer Price Index (CPI) and the Producer Price Index (PPI), in forecasting mortgage rate trends. Another critical factor is the bond market, particularly the yields on long-term government securities like the 10-year Treasury note. Mortgage rates tend to move in tandem with long-term bond yields because both are influenced by similar economic factors, including risk perceptions and investor demand for long-term assets. When yields on Treasury bonds increase, mortgage rates typically follow suit as lenders seek to maintain their spreads over risk-free rates. This linkage highlights the need for constant monitoring of the bond market for insights into future movements in mortgage rates. The housing market itself can also influence the 30 Year Mortgage Rate. When demand for housing is strong, lenders might position themselves more competitively by offering lower rates to attract buyers. Conversely, in a sluggish housing market, higher rates might be necessary to cover the increased risks of lending, including the possibility of default. Housing market indicators, such as existing home sales, housing starts, and building permits, thus play a significant role in the determination of mortgage rates. Additionally, credit risk is a crucial determinant of the 30 Year Mortgage Rate. Lenders assess the creditworthiness of borrowers to mitigate the risk of default. As such, borrowers with higher credit scores often secure lower mortgage rates compared to those with poor credit histories. The overall credit environment, influenced by regulatory changes, banking sector health, and consumer confidence, also impacts these rates. During periods of tight credit conditions, lenders may impose higher rates to offset the elevated perceived risks associated with lending. Global economic conditions can also influence the 30 Year Mortgage Rate. In an interconnected global economy, events such as geopolitical tensions, trade disputes, and economic crises in major economies can affect U.S. interest rates. For instance, a financial crisis in a major economy may lead to a 'flight to safety,' where investors move their capital to safer assets like U.S. Treasuries, driving down their yields and consequently lowering mortgage rates. Technological advancements and innovations in the financial sector have introduced more complexity and variability into mortgage rate determination. Financial technologies (FinTech) and online mortgage platforms have increased competition and transparency in the lending market. These advancements enable borrowers to compare rates more easily, potentially driving rates lower as lenders compete more directly for business. Given the complexity and the array of factors influencing the 30 Year Mortgage Rate, it is crucial for stakeholders to have access to reliable and up-to-date data. At Eulerpool, we provide comprehensive and nuanced data sets that cater to the needs of diverse market participants. Our platform offers detailed historical data, real-time updates, and predictive analytics to help users make informed decisions. Whether you are a first-time homebuyer seeking the best mortgage rates or an investor analyzing housing market trends, Eulerpool's resources can provide the insights needed to navigate the complexities of mortgage financing. In conclusion, the 30 Year Mortgage Rate is more than just a number; it is a fundamental economic barometer with wide-ranging impacts. At Eulerpool, we are committed to delivering high-quality, accurate, and actionable macroeconomic data, empowering our users to understand and leverage this critical financial indicator. By staying informed about the myriad factors influencing mortgage rates, stakeholders can make more strategic and informed decisions, fostering success in the dynamic landscape of real estate financing and investment.