– With the 30 year fixed rate mortgage, the interest rate remains the same from day one, meaning borrowers can depend on the same bill amount from month to month and year to year. For the 30-year term, borrowers pay down the principal, or actual loan amount, along with unchanging interest amount on the mortgage.
Mortgage interest rates have hit a 7-year high – Mortgage interest rates hit a seven-year high this week when the average 30-year fixed mortgage rate increased from 4.61% to 4.66%, its highest level since May 2011. interest rates started at 3.95% at.
US 30 Year Mortgage Rate – YCharts – US 30 Year Mortgage Rate is at 4.31%, compared to 4.41% last week and 4.46% last year. This is lower than the long term average of 8.07%.