|
|
30 Year Fixed Conventional & VA Mortgage RatesAverage US 30 Year Mortgage Rate and US 30 Year VA Mortgage Rate data by St Louis Federal Reserve Bank*Note that these rates are for loans with no lender credit and no points. 30 Year Fixed Conventional Mortgage Rates - IntradayThis is a good website to see what the rates are doing during the day. "Up" is good on this chart... it means the bank pays more for your loan, so your "lender credit" is larger and your closing costs are lower. Mortgage Backed Security Pricing Comparison of 10 Year Treasuries vs 30 Year Conventional Mortgages"Normal" for 30 year mortgages is about +1.8% above the 10 Year Treasury Note. The chart below shows mortgage rates minus Treasury rates.Since early 2022 mortgages have been significantly higher, hitting +3% in June 2023. When/if mortgage rates drop consumers will quickly refinance which causes investors to want higher rates now to compensate for the early payoff risk. A 10 year Treasury Note is "safer" for investors because the US government doesn't "refi". When the 10 year Treasury rates start to stabilize mortgage rates should slowly decline to the +1.8% level. Data by St Louis Federal Reserve Bank Using the +1.8% formula, mortgage rates have been about 0.8% higher than they should be since mid 2022: 
click here for higher res 30 Year Fixed Conventional Mortgage Rates Since 1985
Source: FannieMae
Interest Rates Over The Last 670 Years VisualCapitalist.com - The History of Interest Rates over 670 Years VisualCapitalist.com - Visualizing the 700-Year Fall of Interest Rates * Rates are for a "low cost" loan for top-tier borrowers. | ||||||||||||||||||||||||||||||||
Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower qualification.
