What is 30-Year Fixed Mortgage Rate?
The 30-year fixed mortgage rate is the average interest rate lenders charge on new 30-year fixed-rate home loans in the U.S. It is published weekly by Freddie Mac and tracks the 10-year Treasury yield plus a spread that reflects credit risk and mortgage-backed-security pricing.
Live data: 30-Year Fixed Rate Mortgage Average in the United States
Federal Reserve Economic Data (FRED) — · Weekly, Ending Thursday · 642 observations
Most recent observation: 6.3 Percent as of April 16, 2026.
Understanding 30-Year Fixed Mortgage Rate
The 30-year fixed mortgage rate is the average interest rate lenders charge on new 30-year fixed-rate home loans in the U.S. Published weekly by Freddie Mac's Primary Mortgage Market Survey (PMMS), it is the benchmark most Americans reference when discussing mortgage costs.
Mortgage rates track the 10-year Treasury yield plus a spread — typically 150–250 basis points. The spread absorbs three risks that Treasuries don't: credit risk (borrowers can default), prepayment risk (homeowners refinance when rates drop, truncating lender returns), and funding costs for mortgage-backed securities. The spread widens during MBS-market stress and narrows when conditions normalize.
Mortgage-rate changes flow directly into housing affordability. A 1-percentage-point rise in the rate increases the monthly payment on a $400,000 30-year loan by roughly $250, compressing the price a given buyer can afford by tens of thousands of dollars. The 2021–23 surge from 3% to 8% effectively reset the U.S. housing market.
How 30-Year Fixed Mortgage Rate is calculated
Freddie Mac surveys about 80 mortgage lenders each Monday–Tuesday, asking for their conforming 30-year fixed rate for a borrower with a 20% down payment and prime credit. The weighted average is published Thursdays. FRED series MORTGAGE30US tracks this weekly value.
Historical context
The 30-year rate peaked at 18.6% in October 1981 during Volcker's anti-inflation campaign. It fell steadily through the 1980s, 1990s, and 2000s. Record lows were set in January 2021 at 2.65%. The 2022–23 Fed hiking cycle plus widening MBS spreads drove rates above 8% by October 2023 — the highest since 2000.
Frequently asked questions
Why are 30-year mortgage rates so much higher than 10-year Treasury yields?
The spread reflects three risks bondholders accept with mortgages that they don't face with Treasuries: credit risk (default), prepayment risk (refinancing), and MBS-market funding costs. Historically the spread averages about 170 basis points; it has been 250–300 bp since 2022.
How fast do mortgage rates respond to Fed rate changes?
Mortgage rates respond primarily to the 10-year Treasury yield, which moves on expected Fed policy rather than actual moves. So mortgage rates often adjust BEFORE the Fed acts — they price in the expectation. Once the Fed moves, mortgages may barely shift because the expectation was already baked in.
What's the difference between the advertised rate and the rate I'll actually pay?
The Freddie Mac rate assumes prime credit (740+ FICO) and 20% down. Borrowers with lower scores or smaller down payments pay premiums. Jumbo loans (above conforming limits) can price higher or lower than conforming, depending on market conditions.