30-year fixed rate mortgage
Coverage of 30-year fixed rate mortgage in the Nexus archive.
- Dreams of homeownership in Bay Area just got pricier
The average U.S. mortgage rate increased to 6.58% for a 30-year fixed rate, the highest in 12 months, according to Freddie Mac. This rise makes homeownership in the Bay Area more expensive, as rates climbed from 6.55% the previous week.
- Demand for riskier mortgages drops, as their advantages shrink
Demand for adjustable rate mortgages (ARMs) is weakening as the spread between 30-year fixed rate mortgages and ARMs narrows, reducing the advantages of riskier loans.
- Average US long-term mortgage rate rises to 6.52%, just below its high for the year
The average U.S. 30-year fixed mortgage rate increased to 6.52% this week, driven by higher oil prices and inflation from the U.S.-Iran conflict. Despite remaining below last year's 6.84% level, rising rates have reduced homebuyer purchasing power and contributed to a housing slump, with existing home sales near a 4-million annual pace.
- Average US long-term mortgage rate rises to 6.52%, just below its high for the year
The average U.S. 30-year fixed mortgage rate increased to 6.52%, remaining below its 2024 high of 6.84% but still elevated compared to pre-US-Iran conflict levels. Rising oil prices and inflation from the conflict have driven up bond yields and mortgage rates, contributing to a housing slump with existing home sales near a 4-million annual pace.