Mortgage Rates
Over the Years
While mortgage rates have risen over the past several months, they remain at historic lows.
Data from the housing finance agency Freddie Mac beginning in 1971 shows that the average annual 30-year fixed mortgage rate peaked at 16.63% in 1981 after the Fed raised short-term interest rates to counteract hyperinflation brought on by the oil embargo on Iran and a recession. Mortgage rates continued to decline into the 21st century, reaching their lowest point in 2021, as the Federal Reserve lowered interest rates to near-zero amidst the COVID-19 pandemic.
Source: 247wallst.com
1972
- Avg. 30-year fixed mortgage rate: 7.38%
- Avg. inflation-adjusted home sale price: $207,018
- Homeownership rate: 64.38%
1973
- Avg. 30-year fixed mortgage rate: 8.04%
- Avg. inflation-adjusted home sale price: $226,845
- Homeownership rate: 64.53%
1974
- Avg. 30-year fixed mortgage rate: 9.19%
- Avg. inflation-adjusted home sale price: $223,865
- Homeownership rate: 64.65%
1975
- Avg. 30-year fixed mortgage rate: 9.05%
- Avg. inflation-adjusted home sale price: $224,652
- Homeownership rate: 64.60%
1976
- Avg. 30-year fixed mortgage rate: 8.87%
- Avg. inflation-adjusted home sale price: $239,339
- Homeownership rate: 64.73%
1977
- Avg. 30-year fixed mortgage rate: 8.85%
- Avg. inflation-adjusted home sale price: $253,753
- Homeownership rate: 64.80%
1978
- Avg. 30-year fixed mortgage rate: 9.64%
- Avg. inflation-adjusted home sale price: $271,967
- Homeownership rate: 64.95%
1979
- Avg. 30-year fixed mortgage rate: 11.20%
- Avg. inflation-adjusted home sale price: $280,590
- Homeownership rate: 65.55%
1980
- Avg. 30-year fixed mortgage rate: 13.74%
- Avg. inflation-adjusted home sale price: $263,57
- Homeownership rate: 65.58%
1981
- Avg. 30-year fixed mortgage rate: 16.63%
- Avg. inflation-adjusted home sale price: $259,059
- Homeownership rate: 65.43%
1982
- Avg. 30-year fixed mortgage rate: 16.04%
- Avg. inflation-adjusted home sale price: $246,671
- Homeownership rate: 64.78%
1983
- Avg. 30-year fixed mortgage rate: 13.24%
- Avg. inflation-adjusted home sale price: $255,800
- Homeownership rate: 64.65%
1984
- Avg. 30-year fixed mortgage rate: 13.88%
- Avg. inflation-adjusted home sale price: $266,513
- Homeownership rate: 64.48%
1985
- Avg. 30-year fixed mortgage rate: 12.43%
- Avg. inflation-adjusted home sale price: $265,786
- Homeownership rate: 63.90%
1986
- Avg. 30-year fixed mortgage rate: 10.19%
- Avg. inflation-adjusted home sale price: $289,670
- Homeownership rate: 63.78%
1987
- Avg. 30-year fixed mortgage rate: 10.21%
- Avg. inflation-adjusted home sale price: $317,682
- Homeownership rate: 63.98%
1988
- Avg. 30-year fixed mortgage rate: 10.34%
- Avg. inflation-adjusted home sale price: $331,682
- Homeownership rate: 63.80%
1989
- Avg. 30-year fixed mortgage rate: 10.32%
- Avg. inflation-adjusted home sale price: $340,459
- Homeownership rate: 63.90%
1990
- Avg. 30-year fixed mortgage rate: 10.13%
Avg. inflation-adjusted home sale price: $325,177
Homeownership rate: 63.95%
1991
- Avg. 30-year fixed mortgage rate: 9.25%
Avg. inflation-adjusted home sale price: $306,630
Homeownership rate: 64.05%
1992
- Avg. 30-year fixed mortgage rate: 8.39%
Avg. inflation-adjusted home sale price: $291,400
Homeownership rate: 64.15%
1993
- Avg. 30-year fixed mortgage rate: 7.31%
Avg. inflation-adjusted home sale price: $289,999
Homeownership rate: 64.48%
1994
- Avg. 30-year fixed mortgage rate: 8.38%
Avg. inflation-adjusted home sale price: $295,777
Homeownership rate: 63.98%
1995
- Avg. 30-year fixed mortgage rate: 7.93%
Avg. inflation-adjusted home sale price: $295,444
Homeownership rate: 64.75%
1996
- Avg. 30-year fixed mortgage rate: 7.81%
Avg. inflation-adjusted home sale price: $300,894
Homeownership rate: 65.38%
1997
- Avg. 30-year fixed mortgage rate: 7.60%
Avg. inflation-adjusted home sale price: $311,469
Homeownership rate: 65.70%
1998
- Avg. 30-year fixed mortgage rate: 6.94%
- Avg. inflation-adjusted home sale price: $316,61
- Homeownership rate: 66.28%
1999
- Avg. 30-year fixed mortgage rate: 7.44%
Avg. inflation-adjusted home sale price: $333,102
Homeownership rate: 66.80%
2000
- Avg. 30-year fixed mortgage rate: 8.05%
Avg. inflation-adjusted home sale price: $341,052
Homeownership rate: 67.38%
2001
- Avg. 30-year fixed mortgage rate: 6.97%
Avg. inflation-adjusted home sale price: $341,549
Homeownership rate: 67.83%
2002
- Avg. 30-year fixed mortgage rate: 6.54%
Avg. inflation-adjusted home sale price: $360,677
Homeownership rate: 67.93%
2003
- Avg. 30-year fixed mortgage rate: 5.83%
Avg. inflation-adjusted home sale price: $379,779
Homeownership rate: 68.25%
2004
- Avg. 30-year fixed mortgage rate: 5.84%
Avg. inflation-adjusted home sale price: $412,282
Homeownership rate: 69.00%
2005
- Avg. 30-year fixed mortgage rate: 5.87%
Avg. inflation-adjusted home sale price: $431,458
Homeownership rate: 68.88%
2006
- Avg. 30-year fixed mortgage rate: 6.41%
Avg. inflation-adjusted home sale price: $430,500
Homeownership rate: 68.78%
2007
- Avg. 30-year fixed mortgage rate: 6.34%
Avg. inflation-adjusted home sale price: $429,114
Homeownership rate: 68.15%
2008
- Avg. 30-year fixed mortgage rate: 6.03%
Avg. inflation-adjusted home sale price: $385,574
Homeownership rate: 67.83%
2009
- Avg. 30-year fixed mortgage rate: 5.04%
Avg. inflation-adjusted home sale price: $358,254
Homeownership rate: 67.38%
2010
- Avg. 30-year fixed mortgage rate: 4.69%
Avg. inflation-adjusted home sale price: $355,074
Homeownership rate: 66.85%
2011
- Avg. 30-year fixed mortgage rate: 4.45%
Avg. inflation-adjusted home sale price: $337,903
Homeownership rate: 66.15%
2012
- Avg. 30-year fixed mortgage rate: 3.66%
Avg. inflation-adjusted home sale price: $361,080
Homeownership rate: 65.45%
2013
- Avg. 30-year fixed mortgage rate: 3.98%
Avg. inflation-adjusted home sale price: $395,205
Homeownership rate: 65.13%
2014
- Avg. 30-year fixed mortgage rate: 4.17%
Avg. inflation-adjusted home sale price: $416,701
Homeownership rate: 64.48%
2015
- Avg. 30-year fixed mortgage rate: 3.85%
Avg. inflation-adjusted home sale price: $422,192
Homeownership rate: 63.65%
2016
- Avg. 30-year fixed mortgage rate: 3.65%
Avg. inflation-adjusted home sale price: $426,625
Homeownership rate: 63.40%
2017
- Avg. 30-year fixed mortgage rate: 3.99%
Avg. inflation-adjusted home sale price: $445,505
Homeownership rate: 63.85%
2018
- Avg. 30-year fixed mortgage rate: 4.54%
Avg. inflation-adjusted home sale price: $434,996
Homeownership rate: 64.43%
2019
- Avg. 30-year fixed mortgage rate: 3.94%
Avg. inflation-adjusted home sale price: $426,034
Homeownership rate: 64.55%
2020
- Avg. 30-year fixed mortgage rate: 3.11%
Avg. inflation-adjusted home sale price: $429,612
Homeownership rate: 66.60%
2021
- Avg. 30-year fixed mortgage rate: 2.96%
Avg. inflation-adjusted home sale price: $475,041
Homeownership rate: 65.48%
