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Mortgage Rate History in the U.S. Did you know the interest rate was 18.75 in 1980?
May 18, 2023

Here is the average mortgage interest rates in the United States by year in the past:

Year/30-year fixed-rate mortgage

1971 7.54%

1972 7.73%

1973 8.21%

1974 10.07%

1975 9.99%

1976 8.49%

1977 8.78%

1978 10.21%

1979 13.24%

1980 18.75%

1981 18.45%

1982 12.74%

1983 10.09%

1984 10.15%

1985 9.87%

1986 9.47%

1987 9.38%

1988 10.46%

1989 10.71%

1990 10.71%

1991 8.96%

1992 7.21%

1993 6.64%

1994 8.21%

1995 8.91%

1996 8.48%

1997 8.21%

1998 7.73%

1999 7.46%

2000 8.18%

2001 8.63%

2002 6.24%

2003 5.87%

2004 6.50%

2005 6.94%

2006 6.74%

2007 6.64%

2008 5.25%

2009 4.50%

2010 4.25%

2011 4.00%

2012 3.75%

2013 4.00%

2014 4.25%

2015 4.00%

2016 4.00%

2017 4.50%

2018 4.75%

2019 4.50%

2020 2.75%

2021 2.99%

2022 5.25%

2023 6.94%

As you can see, mortgage interest rates have fluctuated significantly over the years. They have been as low as 2.75% in 2020 and as high as 18.75% in 1980. The Federal Reserve uses interest rates to try to achieve a number of goals, including price stability, full employment, and economic growth

 

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