Fixed 30-year mortgage rates in the United States averaged 6.92 percent in the week ending May 30 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.

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 fourth quarter of 2024, the 30-year fixed rate rose slightly, to 6.63 percent. Despite the increase, the rate remained below the peak of 7.33 percent in the same quarter a year ago. 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.

30 Year Mortgage Rate in the United States decreased to 6.85 percent in June 5 from 6.89 percent in the previous week. This dataset includes a chart with historical data for the United States 30 Year Mortgage Rate.

Mortgage interest rates worldwide varied greatly in 2024, from less than four percent in many European countries, to as high as 44 percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increase in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2023, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

Prospective American homebuyers expected that mortgage rates would decline, according to a nationally representative survey conducted in August 2024. The youngest generation (18 to 34-year-olds) was the only age group that still expected a rise in interest rates in the next 12 months. People aged 45 to 64 were most optimistic, with the share of respondents expecting a decrease outweighing the share expecting a hike by 27 percent.

Graph and download economic data for 30-Year Fixed Rate FHA Mortgage Index (OBMMIFHA30YF) from 2017-01-03 to 2025-06-05 about FHA, 30-year, fixed, mortgage, rate, indexes, and USA.

Among the reported Asia-Pacific countries, South Korea had the lowest mortgage interest rate of 4.16 percent as of December 2023. New Zealand and Australia had the next lowest mortgage interest rates, at 7.59 and 7.81 percent, respectively, as of January 2024.

Graph and download economic data for 30-Year Fixed Rate Jumbo Mortgage Index (OBMMIJUMBO30YF) from 2017-01-03 to 2025-06-05 about jumbo, 30-year, fixed, mortgage, rate, indexes, and USA.

Home Ownership Rate in the United States increased to 65.70 percent in the fourth quarter of 2024 from 65.60 percent in the third quarter of 2024. This dataset provides the latest reported value for - United States Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The U.S. mortgage market has declined notably since 2020 and 2021, mostly due to the effect of higher borrowing costs on refinance mortgages. The value of refinancing mortgage originations, amounted to 190 billion U.S. dollars in the fourth quarter of 2024, down from a peak of 851 billion U.S. dollars in the fourth quarter of 2020. The value of mortgage loans for the purchase of a property recorded milder fluctuations, with a value of 304 billion U.S. dollars in the fourth quarter of 2024. According to the forecast, mortgage lending is expected to slightly increase until the end of 2026. The cost of mortgage borrowing in the U.S. Mortgage interest rates in the U.S. rose dramatically in 2022, peaking in the final quarter of 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 exceeded 6.6 percent. This has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market. The effect of a slower housing market on property prices and rents According to the S&P/Case Shiller U.S. National Home Price Index, housing prices experienced a slight correction in early 2023, as property transactions declined. Nevertheless, the index continued to grow in the following months. On the other hand, residential rents have increased steadily since 2000.

Mortgage credit interest rate, percent in Turkey, March, 2025 The most recent value is 38.79 percent as of March 2025, a decline compared to the previous value of 39.86 percent. Historically, the average for Turkey from January 2002 to March 2025 is 20.17 percent. The minimum of 8.3 percent was recorded in June 2013, while the maximum of 58.45 percent was reached in January 2002. | TheGlobalEconomy.com

The average mortgage interest rate decreased in nearly every country in Europe between 2012 and 2021, followed by an increase in response to inflation. In Hungary, Poland, Czechia, and Romania, mortgage rates peaked in late 2022 and the beginning of 2023, followed by a gradual decline until the first quarter of 2024. The rest of the countries under observation, including the biggest mortgage markets - the UK and Germany, saw a continued increase in interest rates until the fourth quarter of 2023. In the first quarter of 2024, mortgage interest rates declined quarter-on-quarter across almost all markets in focus, marking a long awaited easing of monetary policy.

The mortgage credit interest rate is the average interest rate on mortgage loan products offered to individuals and households by the commercial banks in the country. The mortgage credit is a loan used to finance the purchase of real estate. The table shows the latest available data from the national authorities as well as the values from three months ago and one year ago. The data are updated continuously.

Graph and download economic data for Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, Banks Not Among the 100 Largest in Size by Assets (DRSFRMOBN) from Q1 1991 to Q4 2024 about domestic offices, delinquencies, 1-unit structures, mortgage, family, residential, domestic, assets, banks, depository institutions, rate, and USA.

In 2024, United Wholesale Mortgage was the firm with the highest value of home purchase mortgage originations. The company was responsible for home buying loans worth **** billion U.S. dollars that year. The mortgage market has suffered a decline in new business since 2021, mostly attributed to refinancing loans plummeting due to the higher mortgage interest rates. Nevertheless, the market is forecast to pick up in 2026, as interest rates decline.

House prices grew year-on-year in most states in the U.S. in the third quarter of 2024. The District of Columbia was the only exception, with a decline of three percent. The annual appreciation for single-family housing in the U.S. was 0.71 percent, while in Hawaii—the state where homes appreciated the most—the increase exceeded 10 percent. How have home prices developed in recent years? House price growth in the U.S. has been going strong for years. In 2024, the median sales price of a single-family home exceeded 413,000 U.S. dollars, up from 277,000 U.S. dollars five years ago. One of the factors driving house prices was the cost of credit. The record-low federal funds effective rate allowed mortgage lenders to set mortgage interest rates as low as 2.3 percent. With interest rates on the rise, home buying has also slowed, causing fluctuations in house prices. Why are house prices growing? Many markets in the U.S. are overheated because supply has not been able to keep up with demand. How many homes enter the housing market depends on the construction output, whereas the availability of existing homes for purchase depends on many other factors, such as the willingness of owners to sell. Furthermore, growing investor appetite in the housing sector means that prospective homebuyers have some extra competition to worry about. In certain metros, for example, the share of homes bought by investors exceeded 20 percent in 2024.

Mortgage credit interest rate, percent in Canada, March, 2025 The most recent value is 4.39 percent as of March 2025, a decline compared to the previous value of 4.46 percent. Historically, the average for Canada from July 2016 to March 2025 is 3.3 percent. The minimum of 2.32 percent was recorded in February 2022, while the maximum of 4.84 percent was reached in May 2024. | TheGlobalEconomy.com

Lower Limit of First Home Mortgage Rate: above LPR: Beijing data was reported at -0.450 % Point in 17 May 2025. This stayed constant from the previous number of -0.450 % Point for 16 May 2025. Lower Limit of First Home Mortgage Rate: above LPR: Beijing data is updated daily, averaging 0.550 % Point from Oct 2019 (Median) to 17 May 2025, with 2049 observations. The data reached an all-time high of 0.550 % Point in 25 Jun 2024 and a record low of -0.450 % Point in 17 May 2025. Lower Limit of First Home Mortgage Rate: above LPR: Beijing data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MA: Lower Limit of First Home Mortgage Rate: Prefecture Level City. After adjustment on December 15, 2023: the lower limits of the first and second sets of interest rate policies in the six districts of the city are respectively no less than the market quoted interest rate for loans of the corresponding period plus 10 basis points, and no less than the market quoted interest rate for loans of the corresponding period plus 60 basis points; The lower limits of the first and second sets of interest rate policies in the six non-urban districts are not lower than the market quoted interest rate for loans of the corresponding period, and not lower than the market quoted interest rate for loans of the corresponding period plus 55 basis points.

Graph and download economic data for Large Bank Consumer Mortgage Balances: 60 or More Days Past Due: Including Foreclosures Rates: Accounts Based (RCMFLBACTDPDPCT60P) from Q3 2012 to Q4 2024 about 60 days +, accounts, FR Y-14M, large, balance, mortgage, consumer, banks, depository institutions, rate, and USA.

The homeownership rate in the United States amounted to nearly 66 percent in the third quarter of 2024. While there are many factors that affect people’s decision to buy a house, the recent decrease can be attributed to the higher mortgage interest rates, which make taking out a mortgage less affordable for potential buyers, especially considering the surge in house prices in recent years. Which factors affect homeownership? Age and ethnicity have a strong correlation with homeownership. Baby boomers, for example, are twice as likely to own their home than Millennials. Also, the homeownership rate among white Americans is substantially higher than among any other ethnicity. How does the U.S. homeownership rate compare with other countries? Having a home is an integral part of the “American Dream”. Compared with selected European countries, the U.S. ranks alongside the United Kingdom, Cyprus, and Ireland. Many countries in Europe, however, exceed 80 percent homeownership rate.