The average contract rate on a 30-year fixed-rate mortgage edged down by 3bps to 5.46% in the week ended May 20th 2022. Borrowing costs fell for a second straight week but remained at 2009 high levels. source: Mortgage Bankers Association of America
Mortgage Rate in the United States averaged 6.01 percent from 1990 until 2022, 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 May of 2022.
Mortgage Rate in the United States is expected to be 5.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States MBA 30-Yr Mortgage Rate is projected to trend around 6.00 percent in 2023 and 5.00 percent in 2024, according to our econometric models.