30-Year Fixed Rate USDA Mortgage Index
OBMMIUSDA30YF • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.37
Year-over-Year Change
-2.15%
Date Range
10/12/2021 - 8/8/2025
Summary
The 30-Year Fixed Rate USDA Mortgage Index tracks the average interest rate for long-term agricultural and rural housing loans backed by the United States Department of Agriculture. This metric is crucial for understanding rural housing financing costs and agricultural lending trends.
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 index represents the standard mortgage rate for USDA-guaranteed loans in rural and agricultural regions of the United States. Economists use this trend to assess rural housing market conditions and potential investment opportunities in agricultural communities.
Methodology
The rate is calculated by surveying participating lenders and averaging their offered 30-year fixed mortgage rates for USDA-eligible properties.
Historical Context
Policymakers and financial institutions use this index to evaluate rural economic development, housing affordability, and agricultural sector lending conditions.
Key Facts
- Specifically tracks long-term mortgage rates for rural and agricultural properties
- Provides insight into rural housing market financing conditions
- Influenced by broader economic factors like Federal Reserve monetary policy
FAQs
Q: What makes USDA mortgage rates different from conventional mortgages?
A: USDA mortgages often offer lower interest rates and more flexible qualification requirements for rural property buyers. These loans are designed to encourage rural economic development.
Q: Who qualifies for a USDA mortgage?
A: Borrowers must purchase property in designated rural areas and meet specific income requirements. The program targets low to moderate-income households.
Q: How often is the USDA Mortgage Index updated?
A: The index is typically updated weekly, reflecting current market conditions and lending rates. Changes can occur more frequently during periods of significant economic shifts.
Q: How do USDA mortgage rates impact rural economic development?
A: Lower mortgage rates can stimulate rural housing markets by making homeownership more accessible. This can lead to increased property investment and community growth.
Q: What are the limitations of the USDA Mortgage Index?
A: The index only represents USDA-guaranteed loans and may not fully reflect broader mortgage market trends. It is most relevant for rural and agricultural property financing.
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Citation
U.S. Federal Reserve, 30-Year Fixed Rate USDA Mortgage Index [OBMMIUSDA30YF], retrieved from FRED.
Last Checked: 8/1/2025