15-Year Fixed Rate Mortgage Average in the United States
This dataset tracks 15-year fixed rate mortgage average in the united states over time.
Latest Value
5.75
Year-over-Year Change
-2.87%
Date Range
8/30/1991 - 8/7/2025
Summary
The 15-Year Fixed Rate Mortgage Average tracks the typical interest rate for home loans with a 15-year term in the United States. This metric is crucial for understanding housing affordability, lending conditions, and broader economic trends in the real estate market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the average interest rate offered by lenders for fixed-rate mortgages with a 15-year repayment period. Economists and financial analysts use this data to assess borrowing costs, housing market dynamics, and potential impacts on consumer spending and investment.
Methodology
The data is collected through a weekly survey of financial institutions by Freddie Mac, which aggregates mortgage rate information from across the United States.
Historical Context
Policymakers and central banks use this trend to gauge monetary policy effectiveness and its impact on the housing and lending sectors.
Key Facts
- 15-year mortgages typically have lower interest rates compared to 30-year mortgages
- Shorter loan terms result in higher monthly payments but lower total interest paid
- Mortgage rates fluctuate based on economic conditions and Federal Reserve policies
FAQs
Q: How do 15-year mortgage rates differ from 30-year rates?
A: 15-year mortgages usually have lower interest rates but higher monthly payments compared to 30-year mortgages. The shorter term means less total interest paid over the life of the loan.
Q: What factors influence 15-year mortgage rates?
A: Mortgage rates are influenced by factors such as inflation, Federal Reserve monetary policy, economic growth, and overall market conditions.
Q: How often are these mortgage rates updated?
A: The 15-Year Fixed Rate Mortgage Average is typically updated weekly by Freddie Mac, providing current market insights for borrowers and analysts.
Q: Who uses this mortgage rate information?
A: Homebuyers, real estate professionals, financial advisors, economists, and policymakers use this data to make informed decisions about housing and lending.
Q: What are the limitations of this data?
A: The rates represent an average and may not reflect individual borrower's exact rates, which can vary based on credit score, down payment, and specific lender policies.
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Citation
U.S. Federal Reserve, 15-Year Fixed Rate Mortgage Average in the United States [MORTGAGE15US], retrieved from FRED.
Last Checked: 8/1/2025