30-year fixed mortgage rate

The going rate on a 30-year fixed-rate mortgage.

What it measures

The average interest rate offered on conforming 30-year fixed-rate home loans to well-qualified borrowers, with typical points and fees.

How it is measured

Freddie Mac’s Primary Mortgage Market Survey, weekly since 1971. Originally a survey of lenders; since 2022 it is based on applications Freddie Mac receives.

Reading it over a presidential term

It tracks the 10-year Treasury yield plus a spread that widens when lenders see risk, so it mostly reflects bond markets and inflation expectations rather than anything specific to housing policy.

What it leaves out

One product for one kind of borrower. It is not what an adjustable-rate, jumbo, or lower-credit borrower is offered, and the monthly payment behind a rate also depends on the house price.

Which direction counts as better?

Lower rates make buying cheaper for people with a down payment, and also push prices up, which makes saving that down payment harder; savers and bondholders read a low rate the other way.

Chart this series · See it by president · Download the data · The source at FRED