The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) in the US fell by 23bps to 6.48% in the week ended March 17th 2023, declining for a second consecutive week, and by the most since mid-November. Borrowing costs are now at the lowest level in near a month, after the turmoil in the banking sector sent Treasury yields lower. However, mortgage rates are still much higher than 4.5% a year ago. At the same time, Treasury yields rebounded from March 20th as concerns over the health of the global financial system eased amid government interventions to shore up confidence. source: Mortgage Bankers Association of America
Mortgage Rate in the United States averaged 6.01 percent from 1990 until 2023, reaching an all time high of 10.56 percent in April of 1990 and a record low of 2.85 percent in December of 2020. This page 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. United States MBA 30-Yr Mortgage Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
Mortgage Rate in the United States is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.