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

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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%