30-Year Fixed Mortgage Rates

What is a 30-year fixed mortgage rate? 

A 30-Year Fixed Mortgage rate is the interest rate you receive when you take out your home loan at a 30-year term. It’s the rate you will have for the entire 30-year length of your mortgage. The rate for fixed home loans doesn’t change like for other types of mortgages. That makes it easier to budget and plan for the future. This predictability makes it one of the most popular choices among home loan types.

With a fixed-rate mortgage, you know that your monthly principal and interest payments for your mortgage will remain the same every month. This stability is particularly appealing as it protects you from potential increases in interest rates in the future that could raise your monthly housing costs. However, your property taxes, insurance, and homeowner association (HOA) costs, which are often bundled into your monthly mortgage payment, may change over time.

Since your mortgage payments for a 30-year, fixed-rate mortgage are spread out over a longer period, the monthly payments are typically lower compared to shorter-term loans, such as 15-year, fixed-rate mortgages. This may make homeownership more financially accessible and manageable, especially for first-time buyers or those on a fixed budget.

Choosing a 30-year Fixed Mortgage can provide both peace of mind and financial predictability. This may help you to budget and plan for other expenses without worrying about rising housing costs.

Average 30-year fixed mortgage rate 

The average 30-year fixed mortgage rate for 2025 was around 6.5% and it decreased as the year progressed, ending at 6.1%.  

30-year fixed mortgage rate history 

In 1971, when Freddie Mac started tracking mortgage rates, the 30-year fixed rate stayed under 8%. Since then it has fluctuated with a notable high of 18.53% a decade later in 1981. It dropped to its lowest point in 2020, staying around under 3% for most of the year.

Mortgage rates change over time because of economic and political changes that affect the market and public policies. Your personal rate will be affected both by these global factors as well as personal factors like your credit profile.

Qualifying for a 30-Year Fixed-Rate mortgage 

Qualifying for a 30-Year Fixed-Rate mortgage generally depends on which type of mortgage you are trying to get. For instance, for a Conventional loan, lenders usually require a minimum credit score of 620*, a debt-to-income ratio of 43%, and a down payment of 3%-20%. However, if you want to use a government insured loan, the requirements will be different. A VA loan, for example, has a 0% down payment requirement and has a low (or no, in some cases) credit score requirement to qualify.