US 30-year fixed mortgage rate, calendar-year average 2010–2025

Freddie Mac's Primary Mortgage Market Survey tracks the offered borrowing rate for a 30-year fixed-rate home mortgage. The historical annual averages show a steep change in financing conditions: 2.96% in 2021, 5.34% in 2022, 6.81% in 2023 and 6.60% in 2025. An annual average is not the rate available to every buyer, and it is not a rate charged on existing fixed-rate loans. When borrowing rates rise, prospective buyers face higher monthly principal-and-interest payments on otherwise identical mortgages; sellers may encounter weaker affordability-driven demand. Existing fixed-rate borrowers can benefit from retaining a low contractual rate, but may then be reluctant to move because a new loan costs more. Builders, lenders, renters and buyers face different consequences, and the series alone cannot measure house-price causation. | Calendar year | 30-year fixed mortgage rate, annual mean (%) | |---|---:| | 2010 | 4.69 | | 2011 | 4.45 | | 2012 | 3.66 | | 2013 | 3.98 | | 2014 | 4.17 | | 2015 | 3.85 | | 2016 | 3.65 | | 2017 | 3.99 | | 2018 | 4.54 | | 2019 | 3.94 | | 2020 | 3.11 | | 2021 | 2.96 | | 2022 | 5.34 | | 2023 | 6.81 | | 2024 | 6.72 | | 2025 | 6.60 | The underlying indicator is Freddie Mac's PMMS 30-year fixed mortgage series, also hosted by the Federal Reserve Bank of St. Louis as MORTGAGE30US. Each annual point represents an arithmetic average of that year's published weekly observations, not the December reading, an origination-weighted rate, or an effective APR including all lender fees. Annual aggregates are cross-checked against a published year-by-year weekly-data summary; the primary attribution remains Freddie Mac. Freddie Mac changed the PMMS collection methodology on November 17, 2022, using applications submitted to Freddie Mac, creating a comparability qualification across that date. Rates represent market offers under survey definitions, not an average on all outstanding US mortgage balances. Higher nominal rates are not inherently better or worse for every household: they restrain borrowing for some, reward holders of interest-bearing savings in other markets, and reflect inflation expectations, Treasury yields and mortgage spreads. Related driver: US housing affordability, mortgage financing and Federal Reserve monetary tightening. Freddie Mac PMMS historical archive is the primary data provenance. FRED's Freddie Mac PMMS historical series documents the weekly source and the November 2022 methodology change. Annual average values can be reproduced from the weekly archive; they are reported here to two decimal places.