30 Year Mortgage Rates Chart – Year Rate Average and Current Rates from Select Lenders

Unlocking the path to homeownership involves understanding the ever-changing landscape of mortgage rates.

Let’s delve into the world of 30-year mortgage rates, shedding light on current averages and rates offered by select lenders. Ensure you keep reading to learn more.

What Is a 30-Year Fixed Mortgage?

A 30-year mortgage is a house loan that allows you to repay your lender over 30 years—the longest repayment period normally allowed by lenders and the most popular mortgage product.

The interest rate on a 30-year fixed-rate mortgage never changes over the life of the loan.

Allowing customers to repay a fixed-rate loan over 30 years makes homeownership much more feasible.

Furthermore, you can always pay extra toward your principal if you are able to in a given month or year. This can lower the total amount of interest paid over the life of the loan.

A 30-year mortgage can have certain drawbacks. You will pay more in interest if you repay your mortgage over a longer length of time.

Other mortgage products with shorter durations, such as 15 and 20 years, are available.

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As an example, you might compare prices by using a 15-year vs. 30-year mortgage calculator.

Pros and Cons of a 30-Year Mortgage


  • Fixed monthly payment
  • Affordable monthly payments
  • Extra money for savings or other expenses


  • Higher interest rates
  • More interest
  • Building equity takes longer

30-year Mortgage Averages

Here’s a glimpse into the realm of 30-year mortgage rates, spanning various loan types:

30-Year Conventional, Fixed Rate Mortgage Loan: Clocking in at an average 6.30% APR, this option offers stability and predictability to borrowers.

30-Year FHA Mortgage Loan: With an average 6.50% APR, this Federal Housing Administration loan provides a viable choice for those seeking government-backed mortgage solutions.

30-Year VA Mortgage Loan: Tailored for veterans, the average 6.03% APR on VA loans offers an attractive avenue for securing a lasting home.

30-Year Jumbo Mortgage Loan: For larger home purchases, the average 6.12% APR on jumbo loans presents an option to explore.

Here’s a breakdown of 30-year conventional, 30 Year Mortgage Rates Chart, fixed rate mortgage rates reported by individual lenders:

Bank of America: Offering an APR of 6.486% (accompanied by a 6.25% interest rate and 0.872 points), Bank of America extends its mortgage solutions to suit varying financial profiles.

Better Mortgage: With an APR of 6.372% (bolstered by a 6.125% interest rate and 2.39 points), Better Mortgage demonstrates its commitment to facilitating accessible homeownership.

Rocket Mortgage: Presenting an APR of 6.802% (fueled by a 6.5% interest rate and 1.875 points), Rocket Mortgage is a player in the mortgage market, catering to diverse needs.

Truist: Aiming for a competitive edge, Truist offers an APR of 6.5688% (anchored by a 6.4% interest rate and 1 point), enabling borrowers to navigate the real estate journey.

Wells Fargo: Carrying an APR of 6.329% (with no points involved), Wells Fargo contributes to the array of options for aspiring homeowners.

Note that, it is vital to recognize that the rates mentioned here offer a snapshot of the current 30-year mortgage landscape.

However, the actual rates you secure could be influenced by several factors, such as your geographical location, credit history, down payment, and more.

Each borrower’s journey is unique, and these rates act as starting points to guide your exploration.

Each borrower’s path is unique, and these rates serve as beginning points for your research.


Understanding 30-year mortgage rates empowers you as you step onto the path of homeownership.

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With insights into current averages and rates from select lenders, you can approach this significant decision with greater confidence.

Remember, the world of mortgage rates is dynamic, reflecting the ever-changing nature of the real estate market.

Frequently Asked Questions

What is the appeal of 30-year mortgages?

Because it is generally more inexpensive than other shorter-term mortgage loans, a 30-year, fixed-rate mortgage is the most popular house purchase financial product.

This allows homeowners to have a bit more wiggle room in their budget while still knowing that their monthly payment will never alter.

It also provides the borrower a longer time to decide whether they want to sell and pay off the mortgage later.

They can also refinance into a shorter-term loan or one with a cheaper interest rate if interest rates fall.

Is a 30-year mortgage the best option for me?

A 30-year mortgage may be the best option for you if a 15-year mortgage is out of your price range or if you want to save money while making mortgage payments.