30 Year Fixed Conventional & VA Mortgage Rates

Average 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 - Intraday

This 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 News Daily
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:

Mortgages vs Treasuries
click here for higher res

30 Year Fixed Conventional Mortgage Rates Since 1985

Historical Mortgage Rates
Source: FannieMae

Interest Rates Over The Last 670 Years

670 years of interest rates

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.