In the United States, interest rates for all mortgage types started to increase in 2021. This was due to the Federal Reserve introducing a series of hikes in the federal funds rate to contain the rising inflation. In the first quarter of 2024, the 30-year fixed rate declined slightly, to 6.75 percent. Despite the cut, this was about 3.9 percentage points higher than the same quarter in 2021. Why have U.S. home sales decreased? Cheaper mortgages normally encourage consumers to buy homes, while higher borrowing costs have the opposite effect. As interest rates increased in 2022, the number of existing homes sold plummeted. Soaring house prices over the past 10 years have further affected housing affordability. Between 2013 and 2023, the median price of an existing single-family home risen by about 88 percent. On the other hand, the median weekly earnings have risen much slower. Comparing mortgage terms and rates Between 2008 and 2023, the average rate on a 15-year fixed-rate mortgage in the United States stood between 2.28 and 6.11 percent. Over the same period, a 30-year mortgage term averaged a fixed-rate of between 3.08 and 6.81 percent. Rates on 15-year loan terms are lower to encourage a quicker repayment, which helps to improve a homeowner’s equity.

Mortgage interest rates in Europe soared in 2022 and remained elevated in 2023. In many countries, this resulted in interest rates more than doubling. In Denmark, the average mortgage interest rate rose from 0.67 percent in 2021 to 4.98 percent in 2023. Why did mortgage interest rates increase? Mortgage rates have risen as a result of the European Central Bank (ECB) interest rate increase. The ECB increased its interest rates to tackle inflation. As inflation calms, the ECB is expected to cut rates, which will allow mortgage lenders to reduce mortgage interest rates. What is the impact of interest rates on homebuying? Lower interest rates make taking out a housing loan more affordable, and thus, encourage homebuying. That can be seen in many countries across Europe: In France, the number of residential properties sold rose in the years leading up to 2021, and fell as interest rates increased. The number of houses sold in the UK followed a similar trend.

30 Year Mortgage Rate in the United States increased to 6.67 percent in March 20 from 6.65 percent in the previous week. This dataset includes a chart with historical data for the United States 30 Year Mortgage Rate.

Data for households in receipt of Support for Mortgage Interest (SMI) loans is available in Stat-Xplore on a quarterly basis.

These quarterly experimental statistics include number of households who are currently in receipt of the support as well as the number who have received SMI loans so far (see the background information and methodology note for an explanation of households).

The statistics are broken down by:

• Quarter
• Country, Region
• Qualifying Benefit

Notices

Geography data:

• geography information may not be up to date for some households. This affects the geography statistics from April 2020.

Background information

Read the background information and methodology note for guidance on these statistics, such as timeliness and interpretation.

Interactive statistics

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Next releases

Support for Mortgage Interest statistics are published quarterly. The dates for future releases are listed in the statistics release calendar.

Pre-release access

In addition to staff who are responsible for the production and quality assurance of the statistics, up to 24-hour pre-release access is provided to ministers and other officials. We publish the job titles and organisations of the people who have been granted up to 24-hour pre-release access to the latest Support for Mortgage Interest statistics.

Graph and download economic data for 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-03-20 about 15-year, fixed, mortgage, interest rate, interest, rate, and USA.

Graph and download economic data for 30-Year Fixed Rate Veterans Affairs Mortgage Index (OBMMIVA30YF) from 2017-01-03 to 2025-03-25 about veterans, 30-year, fixed, mortgage, rate, indexes, and USA.

Graph and download economic data for 30-Year Fixed Rate FHA Mortgage Index (OBMMIFHA30YF) from 2017-01-03 to 2025-03-24 about FHA, 30-year, fixed, mortgage, rate, indexes, and USA.

Long term dataset showing the 30 year fixed rate mortgage average in the United States since 1971.

Graph and download economic data for 30-Year Fixed Rate Jumbo Mortgage Index (OBMMIJUMBO30YF) from 2017-01-03 to 2025-03-25 about jumbo, 30-year, fixed, mortgage, rate, indexes, and USA.

As of August 2021, the forbearance rate of single-family housing mortgages owned by Freddie Mac in the U.S. was approximately 2.09 percent. Forbearance is a type of borrower assistance which allows the lender to negotiate a temporary postponement of a mortgage repayment. It allows a payment period relief in lieu of the creditor foreclosing on any property that was used as collateral for the loan.

Key information about House Prices Growth

• US house prices grew 5.2% YoY in Sep 2024, following an increase of 6.2% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1992 to Sep 2024, with an average growth rate of 5.5%.
• House price data reached an all-time high of 17.7% in Sep 2021 and a record low of -12.4% in Dec 2008.

Fixed 30-year mortgage rates in the United States averaged 6.71 percent in the week ending March 21 of 2025. This dataset provides the latest reported value for - United States MBA 30-Yr Mortgage Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

15-Year Fixed Rate Mortgage Average in the United States was 5.83% in March of 2025, according to the United States Federal Reserve. Historically, 15-Year Fixed Rate Mortgage Average in the United States reached a record high of 8.89 in December of 1994 and a record low of 2.10 in July of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for 15-Year Fixed Rate Mortgage Average in the United States - last updated from the United States Federal Reserve on March of 2025.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting 168 U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded 500,000 U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly 12 percent year-on-year, and in 2022, the increase was even higher, at close to 17 percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under three percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

Mortgage Rate: Average: First Time Buyer: Gansu: Lanzhou data was reported at 5.280 % pa in Jun 2021. This records an increase from the previous number of 5.260 % pa for May 2021. Mortgage Rate: Average: First Time Buyer: Gansu: Lanzhou data is updated monthly, averaging 5.260 % pa from Apr 2021 (Median) to Jun 2021, with 3 observations. The data reached an all-time high of 5.280 % pa in Jun 2021 and a record low of 5.260 % pa in May 2021. Mortgage Rate: Average: First Time Buyer: Gansu: Lanzhou data remains active status in CEIC and is reported by Rong 360 BigData Research Institute. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MA: Rediscount and Lending Rate: Mortgage. contact us
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Lending Rate: RUB Mortgage Loans: YB: Quarterly: SB: Kemerovo Region data was reported at 7.950 % pa in Sep 2021. This records an increase from the previous number of 7.240 % pa for Jun 2021. Lending Rate: RUB Mortgage Loans: YB: Quarterly: SB: Kemerovo Region data is updated quarterly, averaging 12.440 % pa from Sep 2006 to Sep 2021, with 61 observations. The data reached an all-time high of 14.660 % pa in Jun 2009 and a record low of 7.240 % pa in Jun 2021. Lending Rate: RUB Mortgage Loans: YB: Quarterly: SB: Kemerovo Region data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Interest and Foreign Exchange Rates – Table RU.MB010: Lending Rate: RUB Housing Loans: ow Mortgage: by Region: Average from Year Beginning.

Lending Rate: RUB Mortgage Loans: YB: NC: Republic of Dagestan data was reported at 8.080 % pa in Aug 2021. This records an increase from the previous number of 7.560 % pa for Jul 2021. Lending Rate: RUB Mortgage Loans: YB: NC: Republic of Dagestan data is updated monthly, averaging 11.970 % pa from Dec 2008 to Aug 2021, with 153 observations. The data reached an all-time high of 15.070 % pa in Oct 2009 and a record low of 7.020 % pa in Mar 2021. Lending Rate: RUB Mortgage Loans: YB: NC: Republic of Dagestan data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Interest and Foreign Exchange Rates – Table RU.MB010: Lending Rate: RUB Housing Loans: ow Mortgage: by Region: Average from Year Beginning.

As of August 2021, the forbearance rate of single-family housing mortgages for investment purposes in the United States was 2.63 percent. Second home mortgages were least affected with 1.1 percent forbearance rate. Forbearance is a type of borrower assistance which allows the lender to negotiate a temporary postponement of a mortgage repayment. It allows a payment period relief in lieu of the creditor foreclosing on any property that was used as collateral for the loan.