The average rate on a 30-year fixed mortgage backed by Freddie Mac rose to 6.93% as of January 9th, the highest since early July. This uptick aligns with the rise in borrowing costs amid concerns over inflation, potential tariff increases under the incoming Trump administration, and a hawkish Federal Reserve. “In the first full week of the new year, the 30-year fixed-rate mortgage remained elevated at just under 7 percent. The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability. The lack of entry-level supply also remains an issue, especially for those looking to become first-time homeowners,” said Sam Khater, Freddie Mac’s Chief Economist. source: Freddie Mac
30 Year Mortgage Rate in the United States increased to 6.93 percent in January 9 from 6.91 percent in the previous week. 30 Year Mortgage Rate in the United States averaged 7.72 percent from 1971 until 2025, reaching an all time high of 18.63 percent in October of 1981 and a record low of 2.65 percent in January of 2021. This page includes a chart with historical data for the United States 30 Year Mortgage Rate. United States 30-Year Mortgage Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.