Interest rates for a 30-year fixed rate conventional mortgage hit 7.52% yesterday, the highest rate in five months, since November 13, 2023 when they were 7.58%. Today, however, they eased and the 30 year fixed rate mortgage interest rate dropped slightly to 7.45% and the interest rate for a 30-year FHA loan slipped below 7% to 6.95%.
The chart below shows interest rates for over 40 years, back to 1980 and shows about as much change as we’ve seen in fashion and technology during the period — from an astronomical high of 18.29% in October 1981 to an unbelievable low of 2.80% in November 2020. Don’t you wish you had a Time Machine and could travel back 4 years and snag a loan?
Mortgage Interest Rates – 1980 – Present
(click on chart for entire live, interactive chart)
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