The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) rose by 12bps to 7.13% in the week ended April 12th, 2024, reaching the highest level since early December, according to data from the Mortgage Bankers Association. The rate for jumbo loans, or the 30-year mortgage for homes sold for over $766,550, was 7.4%, up from 7.13% the previous week. The average rate for a 30-year mortgage backed by the Federal Housing Administration was 6.9%, up from 6.8%. “Despite these higher rates, application activity picked up, possibly as some borrowers decided to act in case rates continue to rise,” Joel Kan, vice president and deputy chief economist at the MBA, said. source: Mortgage Bankers Association of America

Fixed 30-year mortgage rates in the United States averaged 7.13 percent in the week ending April 12 of 2024. Mortgage Rate in the United States averaged 6.04 percent from 1990 until 2024, 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 April of 2024.

Fixed 30-year mortgage rates in the United States averaged 7.13 percent in the week ending April 12 of 2024. Mortgage Rate in the United States is expected to be 6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-04-10 11:00 AM
MBA 30-Year Mortgage Rate
Apr/05 7.01% 6.91%
2024-04-17 11:00 AM
MBA 30-Year Mortgage Rate
Apr/12 7.13% 7.01%
2024-04-24 11:00 AM
MBA 30-Year Mortgage Rate
Apr/19 7.13%


Related Last Previous Unit Reference
15-Year Mortgage Rate 6.39 6.16 percent Apr 2024
30-Year Mortgage Rate 7.10 6.88 percent Apr 2024
Average Mortgage Size 453.00 441.80 Thousand USD Mar 2024
MBA Mortgage Market Index 202.10 195.70 points Apr 2024
MBA Mortgage Refinance Index 500.70 498.30 points Apr 2024
MBA Purchase Index 145.60 138.70 points Apr 2024
MBA Mortgage Applications 3.30 0.10 percent Apr 2024
MBA 30-Year Mortgage Rate 7.13 7.01 percent Apr 2024

United States MBA 30-Yr Mortgage Rate
MBA 30-Year Mortgage Rate is average 30-year fixed mortgage lending rate measured during the reported week and backed by the Mortgage Bankers Association.
Actual Previous Highest Lowest Dates Unit Frequency
7.13 7.01 10.56 2.85 1990 - 2024 percent Weekly

News Stream
Mortgage Rates at 4-Month High: MBA
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) rose by 12bps to 7.13% in the week ended April 12th, 2024, reaching the highest level since early December, according to data from the Mortgage Bankers Association. The rate for jumbo loans, or the 30-year mortgage for homes sold for over $766,550, was 7.4%, up from 7.13% the previous week. The average rate for a 30-year mortgage backed by the Federal Housing Administration was 6.9%, up from 6.8%. “Despite these higher rates, application activity picked up, possibly as some borrowers decided to act in case rates continue to rise,” Joel Kan, vice president and deputy chief economist at the MBA, said.
2024-04-17
US Mortgage Rates Back to 7%
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) rose by 10bps to 7.01% in the week ended April 5th, 2024, reaching the highest level in five weeks, according to data from the Mortgage Bankers Association. “Mortgage rates moved higher last week as several Federal Reserve officials reiterated a patient posture on rate cuts. Inflation remains stubbornly above the Fed’s target, and the broader economy continues to show resiliency. Unexpectedly strong employment data released last week further added to the upward pressure on rates”, said Joel Kan, MBA’s vice president. Meanwhile, the rate for jumbo loans (homes sold for over $766,550), went up to 7.13% from 7.06% and the average rate for a 30-year mortgage backed by the Federal Housing Administration was 6.8%, up from 6.74%.
2024-04-10
US Mortgage Rates Edge Lower: MBA
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) fell by 2bps to 6.91% in the week ended March 29th, 2024, according to data from the Mortgage Bankers Association. However, borrowing costs are higher than 6.4% a year earlier, and "continued to weigh down on homebuying” Joel Kan, an MBA economist said. Meanwhile, the rate for jumbo loans, or the 30-year mortgage for homes sold for over $766,550, was 7.06%, down from 7.14% a week ago. The average rate for a 30-year mortgage backed by the Federal Housing Administration was 6.74%, down from 6.75% a week ago.
2024-04-03