The RDS Business Intelligence team recently updated its Econometrix Tableau real estate workbooks. CLICK HERE to check out all of RDS’s Tableau Workbooks. MORTGAGE RATES

The average, 30-year fixed mortgage rate as of June 23 was 5.81%. The last time we saw rates this high was November of 2008 at 5.97%. See screenshot below.

The current 30-year fixed mortgage rate is up more than 80% since the beginning of 2022. Below we put mortgage rates in context, looking back 50 yeas, by decade:

  • 2020s: 3.33%
  • 2010s: 4.09%
  • 2000s: 6.29%
  • 1990s: 8.12%
  • 1980s: 12.70%
  • 1970s: 8.90%


The Mortgage Bankers Association (MBA) reports weekly on two types of mortgage applications:

  • MBA Purchase Index: The Purchase Index is a leading indicator of home sales by 4-6 weeks, meaning that it is a predictor of housing activity. Housing economists and home builders use the index to forecast new and existing home sales.
  • MBA Refinance Index: The Refinance Index is a tool to predict mortgage activity. Homebuilders pay attention to the Refinance Index because it is a leading indicator of home sales. On the other hand, mortgage investors also take notice of the index as it is a leading indicator of mortgage pre-payment activity.

MBA Purchase Index

As of June 3, the Purchase Index sits at 208.2. The purchase index is down 34% since the beginning of 2022. We haven’t seen a Purchase Index this low since April, 2020 when it hit 208.0

MBA Refinance Index

The Refinance Index stands at 710, which is down an astonishing 70% since the beginning of this year. You’d have to go back to December, 2018, to find the Refinance Index at a similar level (730).


NOTE: Home sale data lags by several months, so our current Tableau viz is based on the most recent, seasonally-adjust home sales.

Seasonally-adjusted home sales for May came in at 696,000, which actually rose 17.7% from April’s level of 591,000. However, versus the previous year, home sales are down 10.5%, and down 13% since the beginning of 2022.

Again, for an interactive look at all of the topics discussed above, as well as other aspects of the U.S. economy, visit our Tableau Public site.

To learn more about the RDS Business Intelligence team, contact:

Kacey Rask : Vice-President, Portfolio Servicing

[email protected] / 513.489.8877, ext. 261