January 9, 2009

Historical 30 year fixed mortgage rates 1971 to 2008

The Federal Reserve has the historical monthly average paid for 30 year fixed mortgages at this page. They give the monthly % rate for 30 year fixed mortgages for 1971 to 2008.

For the 37 year period from 1971 to 2008 the average rate was 9.11% and the median was 8.58%. Mortgages ranged from a minimum 5.23% in June 2003 to a maximum 18.45% in Oct. 1981. December 2008 was at 5.33% so its very close to the minimum we hit in 2003. January 2009 should probably set a new low for rates post 1971.

Here is a graphical chart of the % rates :

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