Our original incarnation of the 30 year historical mortgage rate trend chart, published two years ago today, is consistently one of the more frequently visited articles on this blog.
I updated and added other trend charts in January of this year, and it seemed prudent to update the charts once again.
As I get several requests a month for larger versions of these charts, I’ve included them here (just click on the chart you want to see or save). You are welcome to use these charts as you see fit, I just request that the attribution remain and a link back to this post would be appreciated!
This chart shows the monthly average interest rate for 30 year fixed loans from April 1971 through August 2008:
This chart shows the monthly average interest rate for 15 year fixed loans from September 1991 through August 2008:
This chart shows the monthly average interest rate for 5 year ARM (Adjustable Rate Mortgage) loans from January 2005 through August 2008:
This chart shows the monthly average interest rate for 1 year ARM (Adjustable Rate Mortgage) loans from January 1984 through August 2008:
Data for all charts was supplied by Freddie Mac and is believed to be accurate but not guaranteed.
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A huge thank you; I was thinking of these charts the other day and will be using them for a post soon.
My mom used to tell me about the interest rates in the early 80s and I’ve never actually taken the time to “really” put things into perspective….I sure would hate to have received a home loan at 16 – 18% (with good credit).
Great charts, the interest rates in the 80’s are pretty scary though.
As Jason said, its sure hard to grab a home loan with 16~18% interest.
Ismail
hehe – now you’ll just have to add our mortgage rate widgets so your visitors can see up to the minute rates
If rates would be 18 %, i would like to live on streets….Better than paying interest all my life..
Thanks for putting together these charts. I think it helps put things in perspective. After the last few years, many people actually believe that an interest rate of 6.5% is a high rate! If they realized that interest rates can’t stay this low forever, they might be more willing to make a purchase.
I just used your chart, combined with today’s low interest rates and the upcoming increases to the Fannie Mae fees to remind my readers that it is a great time to buy.
Its amazing how low interest rates really have been for the past 7 years, many buyers are just scared anytime rates go above 6.5% so its good to be able to point to this graph and say “Even at 6.5% rates are especially low.” once they see it in this format I think it makes people realize how lucky they are not to have to pay 11%-15% as many have had to do in the past to purchase a home.
Its been nice to see interest rates come down after the fannie mae/freddie mac takeover. Hopefully they will stay down
Hmm, what about future interest rate for fixed loans? What do you think; it will increase or stay down?
great article very informative
*texas mortgage rates last blog post..How A Dallas Mortgage Lender Can Help You Find the Best Dallas Mortgage Rate
what a great point
**dallas mortgage´s last blog post..Understanding Texas Home Loans
I’m just really interested to see what the new administration will do about our mortgage situation.
Indeed, its very interesting to know if the trend on interest rates will continue to drop down with the new administration.
This is a great way of showing comparison phoenix guy.
Thanks for posting those charts. I may use them on a loan modification website I work on, just have to askmy client first. I will be sure to include the credits if I do.
thanks
Sam
The new administration is up… We just have to wait how they will deal with this mortgage issues.
thank you for the charts
These long term graphs clearly show how rates are at historical lows. If people have the downpayment, this is a great time to buy with dropping prices too.
**Tim´s last blog post..Is Mortgage Refinancing for You?
These statistics only show how mortgage loan interests have improved over the past decades. And this is very important for people to see when the good times to buy. You don’t have to be an analyst to understand this. Thanks for the post. Very informative.
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Lower interest rate and less amount paid while paying mortgage payment will keep the market healthy. The market was down early in the year and now it is recovering and I think it will be stable very soon. Visit http://www.lonestarfinancing.com/mortgage/texas... for San Antonio Mortgage Companies.
when I talk to people who are older than me (parents age) about home buying they said that in the 80’s buying a house they said it was hard but getting a good mortgage then would benefit now and laughed at the fact I am in trouble as trying to find a good mortgage now is really difficult to find and there’s not a lot of stability in recent times.
mortgage free´s last blog ..Mortgage Equity Withdrawal – The Refinancing Trend