The 30-Year Fixed Mortgage Rate tracks primary residential housing borrowing costs across the US economy.
Formula: Freddie Mac Primary Mortgage Market Survey National Average 30-Year Fixed Rate
| Indicator Parameter | Value / Specification |
|---|---|
| Indicator Name | 30-Year Fixed Mortgage Rate |
| Ticker Symbol | MORTGAGE30US |
| Normal Baseline Range | 6.00% - 7.50% |
| Unit of Measure | Percentage (%) |
| Authoritative Source | Freddie Mac / FRED |
High mortgage rates (>7.0%) create a lock-in effect for home sellers and depress new homebuyer transaction volume.
Source: Freddie Mac / FRED (https://fred.stlouisfed.org/series/MORTGAGE30US)
Mortgage rate declines toward 6% stimulate homebuilding, housing activity, and consumer wealth effects.
Reached 7.79% in late 2023, the highest level in 23 years.
The 30-Year Fixed Mortgage Rate tracks primary residential housing borrowing costs across the US economy.
High mortgage rates (>7.0%) create a lock-in effect for home sellers and depress new homebuyer transaction volume.
Mortgage rate declines toward 6% stimulate homebuilding, housing activity, and consumer wealth effects.
Reached 7.79% in late 2023, the highest level in 23 years.
Mortgage rates track 10-Year Treasury Yields plus a primary-secondary credit spread (typically 1.5% to 3.0%).