Rates Indicator
30-Year Fixed Mortgage Rate
Updated 2026-04-03 · Weekly · Source: Freddie Mac · Next release: 2026-04-10
Historical Trend
| Date | Value |
|---|---|
| 2026-04-03 | 6.6% |
| 2026-03-27 | 6.7% |
| 2026-03-06 | 6.7% |
| 2026-02-06 | 6.9% |
| 2026-01-30 | 7.0% |
| 2026-01-02 | 6.9% |
| 2025-12-05 | 6.7% |
| 2025-11-06 | 6.8% |
| 2025-10-02 | 6.1% |
What This Means for Business
At 6.64%, mortgage rates remain well above the sub-3% pandemic-era lows, creating a 'lock-in effect' where existing homeowners refuse to sell (and give up their low rate). For executives in real estate, construction, and financial services, elevated rates mean suppressed transaction volumes and reduced housing affordability. Consumer spending on housing-related goods (furniture, appliances, renovation) is also affected.
About Mortgage Rate
The 30-year fixed mortgage rate is the average interest rate charged on a conventional 30-year home loan. It is the most common mortgage product in the U.S. and is closely tied to the 10-year Treasury yield.
Methodology
Freddie Mac surveys lenders weekly to compile the Primary Mortgage Market Survey. The rate reflects the average offered rate for a conforming 30-year fixed loan with 20% down payment to a borrower with strong credit. Actual rates vary based on creditworthiness, down payment, and loan size.
Related Indicators
Frequently Asked Questions
Will mortgage rates go back to 3%?
It is extremely unlikely that mortgage rates will return to the 2-3% range seen in 2020-2021. Those rates were the result of extraordinary pandemic-era monetary policy (near-zero fed funds rate and massive Fed bond purchases). The historical average for 30-year mortgages is approximately 7-8%. Current rates around 6.5-7% are historically normal, though they feel high compared to the recent anomaly.
How much does a 1% change in mortgage rate affect affordability?
A 1 percentage point increase in the mortgage rate reduces purchasing power by approximately 10-12%. For example, a buyer who qualifies for a $500,000 home at 6% would only qualify for roughly $440,000-$450,000 at 7%, assuming the same monthly payment. This has a massive impact on housing demand.