Hey everyone, I’m doing some research on mortgage rates and I’m curious about the long-term trends. Does anyone have info on how 30-year fixed mortgage rates have changed in the US from the 1970s until now? I’m especially interested in seeing data from 1971 up to current predictions for 2025.
I’ve heard that rates have fluctuated a lot over the years, but I’m not sure about the specifics. It would be great to know things like:
What was the highest rate ever recorded?
When were rates at their lowest?
How do today’s rates compare to historical averages?
If you have any graphs, charts, or reliable sources for this kind of data, that would be super helpful. Thanks in advance for any insights you can share!
As someone who’s worked in real estate finance for over two decades, I can shed some light on this. The 30-year fixed mortgage rate hit its peak in October 1981 at a staggering 18.63%. This was during a period of high inflation and tight monetary policy.
The lowest point came much more recently, in January 2021, when rates dipped to around 2.65%. This was largely due to the economic impact of the COVID-19 pandemic and subsequent Federal Reserve actions.
Currently, rates are hovering around 6-7%, which is higher than the ultra-low rates we saw in 2020-2021, but still lower than historical averages. For context, the average rate from 1971 to 2022 was about 7.76%.
For comprehensive data, I’d recommend checking out Freddie Mac’s Primary Mortgage Market Survey. They’ve been tracking this information since 1971 and provide excellent historical perspective.
yo, i’ve been looking into this too. freddie mac’s data is solid. rates were crazy high in the 80s, like 18% high! can u imagine? lowest was like 2.5% in 2021. now we’re back up to 6-7%. its wild how much they swing. my parents bought in the 90s at like 8% and thought that was good lol. times change i guess
Hey there! Mortgage rates are fascinating, right? I’m curious, have you noticed any patterns in how rates change with economic events? Like recessions or booms? It’d be cool to see if there’s a connection. What do you think caused that crazy 18% in the 80s? Wild times!