Mortgage Market Survey

The average rate for a conforming 30-year mortgage increased 12 basis points over the past week to 3.80 percent, up 21 basis point from a 3.59 percent 21-month low in February but 41 basis points below the 4.21 percent average rate at the same time last year.

The 30-year rate, which hit an all-time low of 3.31 percent in November 2012, and a three-year high of 4.58 percent in August 2013, has averaged roughly 6.7 percent over the past twenty years.

Average 30-Year Mortgage Rate History

Comments from Plugged-In Readers

  1. Posted by Jack

    I wonder if this spurs even more demand to buy. We don’t need more demand as prices have far surpassed 2006-2007 peak levels by 30%+ in many areas. What do you guys think? Rush to buy?

    • Posted by JR "Bob" Dobbs

      No impact yet. Let’s see if rates break out of the 3.6 – 4% band. If they go into the mid-4s or 5s, that will have an impact.

  2. Posted by joey

    I think it will be politically popular for the rich and poor to keep rates low. Between Greece/EU and Russia/Oil and a choppy, regionalized US economy, I think rates will stay low until Clinton gets into office.

    18-24 months before cooling effect is felt.

Comments are closed.

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