Buying
Historical Interest Rate Trends
Interest rates on long-term, fixed mortgages are at historically low levels. The rate on a 30-year, fixed mortgage is hovering around 5.5 percent, while, by comparison, interest rates were at 8 percent and higher during the last market downturn in the late 1990s, and were between 10 and 12 percent at the height of the last housing boom in the 1980s. Lower interest rates make it easier to qualify for a loan, lower your monthly payment and increase your purchasing power.
Monthly Average Rate
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2010 | 5.03 | 4.99 | na | na | na | na | na | na | na | na | na | na |
| 2009 | 5.05 | 5.13 | 5.00 | 4.81 | 4.86 | 5.42 | 5.22 | 5.19 | 5.06 | 4.95 | 4.88 | 4.93 |
| 2008 | 5.76 | 5.92 | 5.97 | 5.92 | 6.04 | 6.32 | 6.43 | 6.48 | 6.04 | 6.20 | 6.09 | 5.29 |
| 2007 | 6.22 | 6.29 | 6.16 | 6.18 | 6.26 | 6.66 | 6.70 | 6.57 | 6.38 | 6.38 | 6.21 | 6.10 |
| 2006 | 6.15 | 6.25 | 6.32 | 6.51 | 6.60 | 6.68 | 6.76 | 6.52 | 6.40 | 6.36 | 6.24 | 6.14 |
| 2005 | 5.71 | 5.63 | 5.93 | 5.86 | 5.72 | 5.58 | 5.70 | 5.82 | 5.77 | 6.07 | 6.33 | 6.27 |
| 2004 | 5.71 | 5.64 | 5.54 | 5.83 | 6.27 | 6.29 | 6.06 | 5.87 | 5.75 | 5.72 | 5.73 | 5.75 |
| 2003 | 5.92 | 5.84 | 5.75 | 5.81 | 5.48 | 5.23 | 5.63 | 6.26 | 6.15 | 5.95 | 5.93 | 5.88 |
| 2002 | 7.00 | 6.89 | 7.01 | 6.99 | 6.81 | 6.65 | 6.49 | 6.29 | 6.09 | 6.11 | 6.07 | 6.05 |
| 2001 | 7.03 | 7.05 | 6.95 | 7.08 | 7.15 | 7.16 | 7.13 | 6.95 | 6.82 | 6.62 | 6.66 | 7.07 |
| 2000 | 8.21 | 8.33 | 8.24 | 8.15 | 8.52 | 8.29 | 8.15 | 8.03 | 7.91 | 7.80 | 7.75 | 7.38 |
| 1999 | 6.79 | 6.81 | 7.04 | 6.92 | 7.15 | 7.55 | 7.63 | 7.94 | 7.82 | 7.85 | 7.74 | 7.91 |
| 1998 | 6.99 | 7.04 | 7.13 | 7.14 | 7.14 | 7.00 | 6.95 | 6.92 | 6.72 | 6.71 | 6.87 | 6.74 |
| 1997 | 7.82 | 7.65 | 7.90 | 8.14 | 7.94 | 7.69 | 7.50 | 7.48 | 7.43 | 7.29 | 7.21 | 7.10 |
| 1996 | 7.03 | 7.08 | 7.62 | 7.93 | 8.07 | 8.32 | 8.25 | 8.00 | 8.23 | 7.92 | 7.62 | 7.60 |
| 1995 | 9.15 | 8.83 | 8.46 | 8.32 | 7.96 | 7.57 | 7.61 | 7.86 | 7.64 | 7.48 | 7.38 | 7.20 |
| 1994 | 7.07 | 7.15 | 7.68 | 8.32 | 8.60 | 8.40 | 8.61 | 8.51 | 8.64 | 8.93 | 9.17 | 9.20 |
| 1993 | 7.99 | 7.68 | 7.50 | 7.46 | 7.47 | 7.42 | 7.21 | 7.11 | 6.91 | 6.83 | 7.16 | 7.17 |
| 1992 | 8.43 | 8.76 | 8.94 | 8.85 | 8.67 | 8.51 | 8.13 | 7.98 | 7.92 | 8.09 | 8.31 | 8.21 |
| 1991 | 9.64 | 9.37 | 9.50 | 9.50 | 9.47 | 9.62 | 9.58 | 9.24 | 9.01 | 8.86 | 8.71 | 8.50 |
| 1990 | 9.90 | 10.20 | 10.27 | 10.37 | 10.48 | 10.16 | 10.04 | 10.10 | 10.18 | 10.17 | 10.01 | 9.67 |
| 1989 | 10.73 | 10.65 | 11.03 | 11.05 | 10.77 | 10.20 | 9.88 | 9.99 | 10.13 | 9.95 | 9.77 | 9.74 |
| 1988 | 10.38 | 9.89 | 9.93 | 10.20 | 10.46 | 10.46 | 10.43 | 10.60 | 10.48 | 10.30 | 10.27 | 10.61 |
| 1987 | 9.20 | 9.08 | 9.04 | 9.83 | 10.60 | 10.54 | 10.28 | 10.33 | 10.89 | 11.26 | 10.65 | 10.64 |
| 1986 | 10.89 | 10.71 | 10.08 | 9.94 | 10.15 | 10.69 | 10.51 | 10.20 | 10.01 | 9.98 | 9.70 | 9.32 |
| 1985 | 13.08 | 12.92 | 13.17 | 13.20 | 12.91 | 12.22 | 12.03 | 12.19 | 12.19 | 12.14 | 11.78 | 11.26 |
| 1984 | 13.37 | 13.23 | 13.39 | 13.65 | 13.94 | 14.42 | 14.67 | 14.47 | 14.35 | 14.13 | 13.64 | 13.18 |
| 1983 | 13.25 | 13.04 | 12.80 | 12.78 | 12.63 | 12.87 | 13.43 | 13.81 | 13.73 | 13.54 | 13.44 | 13.42 |
| 1982 | 17.48 | 17.60 | 17.16 | 16.89 | 16.68 | 16.70 | 16.82 | 16.27 | 15.42 | 14.61 | 13.82 | 13.62 |
| 1981 | 14.90 | 15.13 | 15.40 | 15.58 | 16.40 | 16.70 | 16.83 | 17.28 | 18.16 | 18.45 | 17.82 | 16.95 |
| 1980 | 12.88 | 13.04 | 15.28 | 16.32 | 14.26 | 12.71 | 12.19 | 12.56 | 13.20 | 13.79 | 14.21 | 14.79 |
| 1979 | 10.39 | 10.41 | 10.43 | 10.50 | 10.69 | 11.04 | 11.09 | 11.09 | 11.30 | 11.64 | 12.83 | 12.90 |
| 1978 | 9.01 | 9.14 | 9.20 | 9.35 | 9.57 | 9.71 | 9.74 | 9.78 | 9.76 | 9.86 | 10.11 | 10.35 |
| 1977 | 8.72 | 8.67 | 8.69 | 8.75 | 8.83 | 8.86 | 8.94 | 8.94 | 8.90 | 8.92 | 8.92 | 8.96 |
| 1976 | 9.02 | 8.81 | 8.76 | 8.73 | 8.76 | 8.85 | 8.93 | 9.00 | 8.98 | 8.92 | 8.81 | 8.79 |
| 1975 | 9.43 | 9.10 | 8.89 | 8.82 | 8.91 | 8.89 | 8.89 | 8.94 | 9.12 | 9.22 | 9.15 | 9.10 |
| 1974 | 8.54 | 8.46 | 8.41 | 8.58 | 8.97 | 9.09 | 9.28 | 9.59 | 9.96 | 9.98 | 9.79 | 9.62 |
| 1973 | 7.44 | 7.44 | 7.46 | 7.54 | 7.65 | 7.73 | 8.05 | 8.50 | 8.82 | 8.77 | 8.58 | 8.54 |
| 1972 | 7.44 | 7.32 | 7.29 | 7.29 | 7.37 | 7.37 | 7.40 | 7.40 | 7.42 | 7.42 | 7.43 | 7.44 |
| 1971 | na | na | na | 7.31 | 7.43 | 7.53 | 7.60 | 7.70 | 7.69 | 7.63 | 7.55 | 7.48 |
Source: Freddie Mac. Red and Green indicate highest and lowest monthly average.
