The median mortgage rate was the highest among Black and Hispanic mortgage applicants in the third quarter of 2023, followed closely by White applicants. Asian mortgage applicants for conventional conforming loans had lower interest rate, amounting to **** percent.

30 Year Mortgage Rate in the United States decreased to 6.72 percent in July 31 from 6.74 percent in the previous week. This dataset includes a chart with historical data for the United States 30 Year Mortgage Rate.

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 **** percent. Despite the increase, the rate remained below the peak of **** 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 ** 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 **** and **** percent. Over the same period, a 30-year mortgage term averaged a fixed-rate of between **** and **** percent. Rates on 15-year loan terms are lower to encourage a quicker repayment, which helps to improve a homeowner’s equity.

Fixed 30-year mortgage rates in the United States averaged 6.83 percent in the week ending July 25 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.

Graph and download economic data for 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-07-31 about 15-year, fixed, mortgage, interest rate, interest, rate, and USA.

After a period of gradual decline, the average annual rate on a 30-year fixed-rate mortgage in the United States rose to **** percent in 2023, up from the record-low **** percent in 2021. In 2024, interest rates declined slightly. The rate for 15-year fixed mortgages and five-year ARM mortgages followed a similar trend. This was a result of the Federal Reserve increasing the bank rate - a measure introduced to tackle the rising inflation. U.S. home prices going through the roof Mortgage rates have a strong impact on the market – the lower the rate, the lower the loan repayment. The rate on a 30-year fixed-rate mortgage decreasing after the Great Recession has stimulated the market and boosted home sales. Another problem consumers face is the fact that house prices are rising at an unaffordable level. The median sales price of a new home sold surged in 2021, while the median weekly earnings of a full-time employee maintained a more moderate increase. What are the differences between 15-year and 30-year mortgages? Two of the most popular loan terms available to homebuyers are the 15-year fixed-rate mortgage and the 30-year fixed-rate mortgage. The 30-year option appeals to more consumers because the repayment is spread out over 30 years, meaning the monthly payments are lower. Consumers choosing the 15-year option will have to pay higher monthly payments but benefit from lower interest rates.

Graph and download economic data for Interest Rates: Other Long Term Rates and Yields: Housing: Mortgage Rates for Luxembourg (IRLOHO02LUM156N) from Jan 1987 to Nov 2023 about Luxembourg, mortgage, yield, interest rate, interest, housing, and rate.

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In May 2025, the average 10-year fixed rate interest rate reached **** percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2023, reaching just above *** million. Despite the number of transactions falling, this figure was higher than the period before the COVID-19 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for five straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About **** million homeowners are projected to see their deal expire by the end of 2026. About *** million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026.

In 2023, the average mortgage rates in European countries varied from *** percent in Bulgaria to over eight percent in Hungary. The mortgage rate for a home purchase is decided depending on the individual situation of the homebuyer, their credit history, and income, but they also follow macro determinants including the base lending rate, inflation, economic growth, and the health of the housing market. Starts, completions and prices The supply of new housing varies in different countries in Europe. In 2023, the number of new housing units completed per 1,000 citizens was between *** and seven, with this number varying greatly in different countries. Ireland and Poland were among the countries with most completed housing units. When it comes to housing starts, Ireland tops the ranking. The average transaction price of a new dwelling in 2023 ranged anywhere from roughly ***** euros per square meter to under ***** euros per square meter. Housing stock As the most populous country in Europe, Germany has the largest housing stock. Comparing the number of housing units per 1,000 citizens is an easy way to identify housing shortages. In Greece and the UK, for example, the number of dwellings per 1,000 citizens measured less than ***, compared to Bulgaria and Spain, where it was around ***.

Graph and download economic data for 30-Year Fixed Rate Veterans Affairs Mortgage Index (OBMMIVA30YF) from 2017-01-03 to 2025-07-31 about veterans, 30-year, fixed, mortgage, rate, indexes, and USA.

In 2025, mortgage interest rates in Canada decreased. The five-year insured fixed mortgage interest rate as of May 2025 stood at **** percent, making it the most affordable mortgage type. Meanwhile, the insured mortgage rate fixed for under one year was the highest, at **** percent.

Graph and download economic data for 30-Year Fixed Rate Jumbo Mortgage Index (OBMMIJUMBO30YF) from 2017-01-03 to 2025-07-30 about jumbo, 30-year, fixed, mortgage, rate, indexes, and USA.

Mortgage Loan Service Market Outlook

The global mortgage loan service market size was valued at approximately $10.5 trillion in 2023 and is projected to reach around $18.2 trillion by 2032, growing at a CAGR of 6.1% during the forecast period. The growth of this market is driven by the increasing urbanization, rising disposable incomes, and favorable government policies aimed at promoting homeownership across various regions. Additionally, the proliferation of digital banking and fintech solutions has made mortgage services more accessible, further contributing to the market's expansion.

One of the primary growth factors for the mortgage loan service market is the significant rise in housing demand globally. As urban populations swell and economic conditions improve, more individuals and families are seeking to purchase homes, driving the need for mortgage loans. This trend is particularly evident in emerging markets, where urbanization is occurring at an unprecedented rate. Governments are also playing a crucial role by implementing policies and grants to make housing more affordable, thereby boosting mortgage adoption.

Technological advancements are another significant factor propelling the mortgage loan service market. The integration of AI, big data analytics, and blockchain technology has revolutionized the way mortgage services are delivered. These technologies streamline application processes, enhance risk assessment, and improve customer service, making it easier and faster for consumers to secure loans. Fintech companies, in particular, are leveraging these technologies to offer more competitive rates and personalized loan products, thereby attracting a broader customer base.

Furthermore, the increasing participation of non-banking financial institutions (NBFIs) and credit unions has diversified the mortgage loan service market. These entities often provide more flexible and innovative loan products compared to traditional banks, meeting the needs of a more varied clientele. NBFIs and credit unions also tend to have more lenient approval processes, making them an attractive option for individuals with non-traditional income sources or lower credit scores. This diversification is contributing significantly to the market's growth.

Mortgage Loans Software is playing an increasingly pivotal role in the evolution of the mortgage loan service market. As the industry embraces digital transformation, software solutions are being developed to streamline the entire mortgage process, from application to approval. These software platforms facilitate better data management, enhance customer experience, and improve operational efficiency for service providers. By automating routine tasks and providing real-time analytics, Mortgage Loans Software helps lenders make more informed decisions, reduce processing times, and minimize errors. This technological advancement is not only beneficial for lenders but also empowers borrowers by offering them greater transparency and control over their mortgage journey.

Regionally, North America continues to dominate the mortgage loan service market due to its well-established financial infrastructure and high homeownership rates. However, the Asia Pacific region is expected to register the fastest growth during the forecast period, driven by rapid urbanization, rising incomes, and government initiatives aimed at affordable housing. Countries like China and India are particularly noteworthy due to their large and growing middle-class populations.

Type Analysis

The mortgage loan service market is segmented by type into fixed-rate mortgages, adjustable-rate mortgages, interest-only mortgages, reverse mortgages, and others. Fixed-rate mortgages are the most popular type, offering borrowers the stability of a constant interest rate over the life of the loan. This makes them particularly attractive in times of low-interest rates, as borrowers can lock in favorable terms for the long term. The predictability of monthly payments also makes fixed-rate mortgages a preferred choice for many homeowners.

Adjustable-rate mortgages (ARMs) offer lower initial interest rates compared to fixed-rate mortgages, making them an attractive option for borrowers who anticipate an increase in their income or plan to sell their property before the rate adjusts. However, the fluctuating interest rates can pose a risk, especially in volatile economic conditions. Despite this, the flexibility

Mortgage credit interest rate, percent in Brazil, March, 2025 The most recent value is 10.91 percent as of March 2025, an increase compared to the previous value of 9.98 percent. Historically, the average for Brazil from March 2011 to March 2025 is 9.01 percent. The minimum of 6.63 percent was recorded in May 2021, while the maximum of 11.41 percent was reached in July 2023. | TheGlobalEconomy.com

Graph and download economic data for Expenditures: Mortgage Interest and Charges by Deciles of Income Before Taxes: Third 10 Percent (21st to 30th Percentile) (CXUOWNMORTGLB1504M) from 2014 to 2023 about percentile, mortgage, tax, expenditures, interest, income, and USA.

Mortgage credit interest rate, percent in Argentina, June, 2025 The most recent value is 37.84 percent as of June 2025, an increase compared to the previous value of 33.55 percent. Historically, the average for Argentina from January 2002 to June 2025 is 22.95 percent. The minimum of 10.08 percent was recorded in July 2007, while the maximum of 130.6 percent was reached in December 2023. | TheGlobalEconomy.com

This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...).

Mortgage rates in the Netherlands increased sharply in 2022 and 2023, after declining gradually between 2008 and 2021. In December 2021, the average interest rate for new mortgage loans stood at **** percent, and by the end of 2023, it had risen to **** percent. In May 2025, mortgage rates decreased slightly, falling to **** percent on average. Mortgages with a 10-year fixed rate were the most affordable, at **** percent. Are mortgage rates in the Netherlands different from those in other European countries? When comparing this ranking to data that covers multiple European countries, the Netherlands’ mortgage rate was similar to the rates found in Spain, the United Kingdom, and Sweden. It was, however, a lot lower than the rates in Eastern Europe. Hungary and Romania, for example, had some of the highest mortgage rates. For more information on the European mortgage market and how much the countries differ from each other, please visit this dedicated research page. How big is the mortgage market in the Netherlands? The Netherlands has overall seen an increase in the number of mortgage loans sold and is regarded as one of the countries with the highest mortgage debt in Europe. The reason behind this is that Dutch homeowners were able to for many years to deduct interest paid from pre-tax income (a system known in the Netherlands as hypotheekrenteaftrek). Total mortgage debt of Dutch households has been increasing year-on-year since 2013.

Bank Lending Rate in the United States remained unchanged at 7.50 percent in June. This dataset provides - United States Average Monthly Prime Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Expenditures: Mortgage Interest and Charges: All Consumer Units (CXUOWNMORTGLB0101M) from 1984 to 2023 about consumer unit, mortgage, expenditures, interest, and USA.