Graph and download economic data for 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-11-26 about 15-year, mortgage, fixed, interest rate, interest, rate, and USA.

Policy interest rates in the U.S. and Europe are forecasted to decrease gradually between 2024 and 2027, following exceptional increases triggered by soaring inflation between 2021 and 2023. The U.S. federal funds rate stood at **** percent at the end of 2023, the European Central Bank deposit rate at **** percent, and the Swiss National Bank policy rate at **** percent. With inflationary pressures stabilizing, policy interest rates are forecast to decrease in each observed region. The U.S. federal funds rate is expected to decrease to *** percent, the ECB refi rate to **** percent, the Bank of England bank rate to **** percent, and the Swiss National Bank policy rate to **** percent by 2025. An interesting aspect to note is the impact of these interest rate changes on various economic factors such as growth, employment, and inflation. The impact of central bank policy rates The U.S. federal funds effective rate, crucial in determining the interest rate paid by depository institutions, experienced drastic changes in response to the COVID-19 pandemic. The subsequent slight changes in the effective rate reflected the efforts to stimulate the economy and manage economic factors such as inflation. Such fluctuations in the federal funds rate have had a significant impact on the overall economy. The European Central Bank's decision to cut its fixed interest rate in June 2024 for the first time since 2016 marked a significant shift in attitude towards economic conditions. The reasons behind the fluctuations in the ECB's interest rate reflect its mandate to ensure price stability and manage inflation, shedding light on the complex interplay between interest rates and economic factors. Inflation and real interest rates The relationship between inflation and interest rates is critical in understanding the actions of central banks. Central banks' efforts to manage inflation through interest rate adjustments reveal the intricate balance between economic growth and inflation. Additionally, the concept of real interest rates, adjusted for inflation, provides valuable insights into the impact of inflation on the economy.

Mortgage interest rates worldwide varied greatly in June 2025, from less than ******percent in many European countries to as high as ***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 increases 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 2024, 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.

Mortgage rates surged at an unprecedented pace in 2022, with the average 10-year fixed rate doubling between March and December of that year. In response to mounting inflation, the Bank of England implemented a series of rate hikes, pushing borrowing costs steadily higher. By October 2025, the average 10-year fixed mortgage rate stood at **** percent. As financing becomes more expensive, housing demand has cooled, weighing on market sentiment and slowing house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold fell significantly in 2023, dipping to just above *** million transactions. This contraction in activity also dampened mortgage lending. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans declined year-on-year for five consecutive quarters. Even as rates eased modestly in 2024 and housing activity picked up slightly, volumes remained well below the highs recorded in 2021. How are higher mortgages impacting homebuyers? For homeowners, the impact is being felt most acutely as fixed-rate deals expire. Mortgage terms in the UK typically range from two to ten years, and many borrowers who locked in historically low rates are now facing significantly higher repayments when refinancing. By the end of 2026, an estimated five million homeowners will see their mortgage deals expire. Roughly two million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026, putting additional pressure on household budgets and constraining affordability across the market.

The benchmark interest rate in Sweden was last recorded at 1.75 percent. This dataset provides the latest reported value for - Sweden Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The benchmark interest rate in China was last recorded at 3 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Dutch Central Bank (DNB) estimated that the growth of mortgage lending will slow down in 2023 and 2024, after originations rose by *** percent in 2022. That can be explained with the accelerated house price growth in recent years and the higher interest rates, eroding housing affordability. Within Europe, the Netherlands counts as one of the countries with the highest mortgage debt among private individuals. This has a political background as the Dutch tax system allowed homeowners to deduct interest paid on mortgage from pre-tax income for a maximum period of thirty year, essentially allowing for income support for homeowners. In the Netherlands, this system is known as hypotheekrenteaftrek.

The benchmark interest rate in Hong Kong was last recorded at 4.25 percent. This dataset provides the latest reported value for - Hong Kong Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States MBA Forecast: Unemployment Rate: Annual: sa data was reported at 3.700 % in 2021. This records an increase from the previous number of 3.600 % for 2020. United States MBA Forecast: Unemployment Rate: Annual: sa data is updated yearly, averaging 4.400 % from Dec 2013 (Median) to 2021, with 9 observations. The data reached an all-time high of 7.400 % in 2013 and a record low of 3.500 % in 2019. United States MBA Forecast: Unemployment Rate: Annual: sa data remains active status in CEIC and is reported by Mortgage Bankers Association. The data is categorized under Global Database’s United States – Table US.G023: Current Population Survey: Unemployment Rate: Seasonally Adjusted: Forecast: Mortgage Bankers Association.

The benchmark interest rate in Norway was last recorded at 4 percent. This dataset provides the latest reported value for - Norway Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Finland Long Term Interest Rate

• Finland Long Term Interest Rate: Month Avg: Finland: ECB Harmonised was reported at 3.01 % pa in Oct 2025, compared with 3.09 % pa in the previous month.
• Finland Long Term Interest Rate data is updated monthly, available from Aug 1991 to Oct 2025.
• The data reached an all-time high of 13.53 % pa in Sep 1992 and a record low of -0.41 % pa in Dec 2020.
• Long Term Interest Rate is reported by reported by CEIC Data.

• In the latest reports, Finland Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at -0.57 % pa in Nov 2021.
• The cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.15 % pa in Nov 2025.
• Finland Exchange Rate against USD averaged 0.86 (USD/EUR) in Oct 2025.

Key information about Belgium Long Term Interest Rate

• Belgium Long Term Interest Rate: Month Avg: Belgium: ECB Harmonised was reported at 3.19 % pa in Oct 2025, compared with 3.26 % pa in the previous month.
• Belgium Long Term Interest Rate data is updated monthly, available from Jun 1989 to Oct 2025.
• The data reached an all-time high of 10.40 % pa in Feb 1990 and a record low of -0.39 % pa in Dec 2020.
• Long Term Interest Rate is reported by reported by CEIC Data.

• In the latest reports, Belgium Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at -0.57 % pa in Nov 2021.
• The cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.15 % pa in Nov 2025.
• Belgium Exchange Rate against USD averaged 0.86 (USD/EUR) in Oct 2025.

The benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The U.S. bank prime loan rate has undergone significant fluctuations over the past three decades, reflecting broader economic trends and monetary policy decisions. From a high of **** percent in 1990, the rate has seen periods of decline, stability, and recent increases. As of October 2025, the prime rate stood at **** percent, marking a notable rise from the historic lows seen in the early 2020s. Federal Reserve's impact on lending rates The prime rate's trajectory closely mirrors changes in the federal funds rate, which serves as a key benchmark for the U.S. financial system. In 2023, the Federal Reserve implemented a series of rate hikes, pushing the federal funds target range to ******** percent by year-end. This was followed by several rate cuts in 2024, with the target range standing at 4.25 to 4.5 percent in December 2024. The aggressive monetary tightening in 2023 was aimed at combating rising inflation, and its effects rippled through various lending rates, including the prime rate. Long-term investment outlook While short-term rates have risen, long-term investment yields have also seen changes. The 10-year U.S. Treasury bond, a benchmark for long-term interest rates, showed an average market yield of **** percent in the second quarter of 2024, adjusted for constant maturity and inflation. This figure represents a recovery from negative real returns seen in 2021, reflecting shifting expectations for economic growth and inflation. The evolving yield environment has implications for both borrowers and investors, influencing decisions across the financial landscape.

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According to our research report, the Power Tools Market in the US will witness a CAGR of 3.33% which is expected to increase by USD 1.63 billion for the forecast period 2020 to 2025.

This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (electric, pneumatic, and others) and end-user (professional and consumer). The power tools market in the US report also offers information on several market vendors, including ANDREAS STIHL AG & Co. KG, Apex Tool Group LLC, Emerson Electric Co., Illinois Tool Works Inc., Ingersoll Rand Inc., Makita Corp., Robert Bosch GmbH, Snap-on Inc., Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd. among others.

What will the Power Tools Market Size in US be During the Forecast Period?

Download the Report Sample to Unlock the Power Tools Market Size in US for the Forecast Period and Other Important Statistics

Parent Market Analysis

The power tools market in US is a part of the global electrical components and equipment market. The global electrical components and equipment market was valued at USD 1,941.23 billion in 2020. Our Technavio Research categorizes the global market belonging to the Electrical Equipment industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Power Tools Market in US: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The growing demand for power tools for DIY projects in the US is notably driving the power tools market growth in the US, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the power tools industry in US. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Power Tools Market Driver in US

One of the key factors driving growth in the market is the growing demand for power tools for DIY projects in US. DIY projects refer to activities in which individuals such as hobbyists, residents, amateurs, or enthusiasts engage themselves in modifying, upgrading, maintaining, and rebuilding their material possessions such as household appliances, automobiles, residences, and bicycles. DIY projects are performed using raw or semi-finished raw materials, suitable tools, and equipment with little or no assistance from professionals. Home improvement projects constitute the majority of DIY projects. Some home improvement projects include replacing a shower faucet or refinishing the basement and attic. Home improvement projects include activities such as woodworking; plumbing; landscaping; and heating, ventilation, and air-conditioning (HVAC) utility repair works. A home is usually a life-long asset, and the demand for DIY tools, including power tools, for home improvement projects is growing in the US, as the large and affluent middle class in the US increasingly demands a better home space to ensure an improved standard of living. Moreover, with the spread of social media channels, more people are getting engaged in DIY projects to demonstrate their creative skills. Also, before hiring a working professional or labour, brainstorming has become a part of life, calculating the cost of professional plumbers, electricians, and mechanics. Such factors will positively impact the growth of the power tools market.

Key Power Tools Market Challenge in US

The risk of rising interest rates will be a major challenge for the market during the forecast period. The interest rates in the US have been rising since 2015. The US Federal Reserve increased the benchmark rates by approximately eight times in September 2018. A rising interest rate discourages borrowing by businesses and individuals and encourages savings. As a result of the rising benchmark rates in the US, the 30-year fixed rate mortgage in the US has increased by 25% between October 2017 and October 2018. This may lead to a reduction in the number of new home loan applications in the US in the forecast timeframe. Apart from this, a lean inventory of existing residences and the rising cost of construction have increased the prices of the existing residences. This is leading to a decline in the sales of the existing residences. The sale of existing residences is an important demand driver for power tools in the US as new owners invest in the modification and beautification of the acquired residence. The benchmark rates in the US are expected to rise further in 2019 due to the strong economic growth of

The benchmark interest rate in Mexico was last recorded at 7.25 percent. This dataset provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Finance sector's operating environment was previously characterised by record-low interest rates. Nonetheless, high inflation prompted the Reserve Bank of Australia (RBA) to hike the cash rate from May 2022 onwards. This shift allowed financial institutions to impose higher loan charges, propelling their revenue. Banks raised interest rates quicker than funding costs in the first half of 2022-23, boosting net interest margins. However, sophisticated competition and digital disruption have reshaped the sector and nibbled at the Big Four's dominance, weighing on ADIs' performance. In the first half of 2025, the fierce competition has forced ADIs to trim lending rates even ahead of RBA moves to protect their slice of the mortgage market. Higher cash rates initially widened net interest margins, but the expiry of cheap TFF funding and a fierce mortgage war are now compressing spreads, weighing on ADIs' profitability. Although ANZ's 2024 Suncorp Bank takeover highlights some consolidation, the real contest is unfolding in tech. Larger financial institutions are combatting intensified competition from neobanks and fintechs by upscaling their technology investments, strengthening their strategic partnerships with cloud providers and technology consulting firms and augmenting their digital offerings. Notable examples include the launch of ANZ Plus by ANZ and Commonwealth Bank's Unloan. Meanwhile, investor demand for rental properties, elevated residential housing prices and sizable state-infrastructure pipelines have continued to underpin loan growth, offsetting the drag from weaker mortgage affordability and volatile business sentiment. Overall, subdivision revenue is expected to rise at an annualised 8.3% over the five years through 2024-25, to $524.6 billion. This growth trajectory includes an estimated 4.8% decline in 2024-25 driven by rate cuts in 2025, which will weigh on income from interest-bearing assets. The Big Four banks will double down on technology investments and partnerships to counter threats from fintech startups and neobanks. As cybersecurity risks and APRA regulations evolve, financial institutions will gear up to strengthen their focus on shielding sensitive customer data and preserving trust, lifting compliance and operational costs. In the face of fierce competition, evolving regulations and shifting customer preferences, consolidation through M&As is poised to be a viable trend for survival and growth, especially among smaller financial institutions like credit unions. While rate cuts will challenge profitability within the sector, expansionary economic policies are poised to stimulate business and mortgage lending activity, presenting opportunities for strategic growth in a dynamic market. These trends are why Finance subdivision revenue is forecast to rise by an annualised 1.1% over the five years through the end of 2029-30, to $554.9 billion

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 112 billion U.S. dollars in the first quarter of 2025, 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 272 billion U.S. dollars in the first quarter of 2025. 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.

The benchmark interest rate in Russia was last recorded at 16.50 percent. This dataset provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Real Estate Sales and Brokerage industry has faced headwinds recently, mainly because of high mortgage rates. Between 2022 and 2023, the Federal Reserve raised its benchmark interest rate 11 times to manage inflation. Although reduced several times since, the aftermath remains prevalent, with mortgage rates still significantly higher than the levels of 2019-2021. This has stifled homebuyer demand, resulting in reduced home sales and pressure on related sectors. Agents and brokers are adjusting to this new reality, with many would-be homeowners delaying or reconsidering their purchasing plans. The office market has also been impacted, facing high vacancy rates. Despite the challenges, there are indicators of resilience in the industry. Housing inventory has increased, alleviating some buying pressures and providing more options for buyers. Brokers and agents are shifting their strategies, focusing more on marketing and price negotiations. Home prices have continued to climb, benefiting agents and brokerages whose commission relies on selling prices. In the office market, despite an increase in vacancies, sales of buildings have been on the rise; brokers have found opportunities by focusing on high-quality assets, such as Class A office spaces. Nonetheless, because of the industry's robust performance from 2020 to 2021, revenue has climbed at a CAGR of 0.7% over the past five years, reaching $240.0 billion in 2025. 2025 revenue will climb an estimated 0.6% as home price appreciation and a rebound in commercial sales volume will fuel tepid growth. The 'higher for longer' mortgage rate environment will persist, but reductions in interest rates will make new building constructions less expensive, leading to a gain in apartment complex constructions and benefiting real estate professionals. Supply constraints will gradually ease as housing starts are projected to strengthen, resulting in a more balanced and sustainable market. The industry will also see technological advancements with a greater reliance on AI-driven lead generation, virtual staging and automated transaction tools. Federal efforts to alleviate housing shortages through regulatory reforms and the use of federal lands for housing construction may boost the industry. Overall, industry revenue will gain at a CAGR of 1.8% to reach $262.6 billion in 2030.