The national average for 30-year mortgages was 7.17 percent. With these rates, buyers will stretch their budgets to get a better home for the long haul. Buyers feel confident that there will be opportunities to refinance for a better interest rate in the not-too-distant future. Look back to the 1980’s when builders offered 11.9 percent on a fixed rate 30-year mortgage. Most mortgages in the U.S. are now at or below a 4 percent.