Claire Schrantz

Historic Mortgage Rates By Decade

Claire Schrantz
Historic Mortgage Rates By Decade
The average 30-year fixed mortgage rates and approximate payment for a $200,000 mortgage. Payments are principals & interest only, based on a $200,000 full amortizing mortgage. All terms are assumed to be 30 years. September rate taken from Freddie Mac. 

The average 30-year fixed mortgage rates and approximate payment for a $200,000 mortgage. Payments are principals & interest only, based on a $200,000 full amortizing mortgage. All terms are assumed to be 30 years. September rate taken from Freddie Mac. 

Some highlights

  • The interest rate you secure for your mortgage greatly influences your monthly housing costs.

  • In the 1980s, 30-year fixed mortgage rates averaged in the high 12%-range making the monthly principal and interest payment over $2,000.

  • Interest rates are still at historic lows; this is a great time lock in your housing cost and protect yourself from increasing rents, or refinance your current mortgage.