Table
14. Mortgage Interest Rates, Average Commitment Rates, and Points: 1973–Present
Period |
FHA | Conventional | ||||||
|---|---|---|---|---|---|---|---|---|
| 30-Year Fixed Rate | 30-Year Fixed Rate | 15-Year Fixed Rate | 1-Year ARMs | |||||
| Rate* | Points 1 | Rate | Points | Rate | Points | Rate | Points | |
| Annual Data | ||||||||
| 1973 | 7.41 | 5.4 | 8.04 | 1.0 | NA | NA | NA | NA |
| 1974 | 8.85 | 4.6 | 9.19 | 1.2 | NA | NA | NA | NA |
| 1975 | 8.64 | 4.4 | 9.04 | 1.1 | NA | NA | NA | NA |
| 1976 | 8.50 | 3.2 | 8.88 | 1.2 | NA | NA | NA | NA |
| 1977 | 8.27 | 2.7 | 8.84 | 1.1 | NA | NA | NA | NA |
| 1978 | 9.10 | 3.6 | 9.63 | 1.3 | NA | NA | NA | NA |
| 1979 | 10.00 | 4.5 | 11.19 | 1.6 | NA | NA | NA | NA |
| 1980 | 12.36 | 5.7 | 13.77 | 1.8 | NA | NA | NA | NA |
| 1981 | 15.17 | 5.1 | 16.63 | 2.1 | NA | NA | NA | NA |
| 1982 | 14.83 | 4.1 | 16.09 | 2.2 | NA | NA | NA | NA |
| 1983 | 12.24 | 4.4 | 13.23 | 2.1 | NA | NA | NA | NA |
| 1984 | 13.21 | 3.8 | 13.87 | 2.5 | NA | NA | 11.49 | 2.5 |
| 1985 | 11.96 | 2.8 | 12.42 | 2.5 | NA | NA | 10.04 | 2.5 |
| 1986 | 9.75 | 2.2 | 10.18 | 2.2 | NA | NA | 8.42 | 2.3 |
| 1987 | 9.67 | 2.8 | 10.20 | 2.2 | NA | NA | 7.82 | 2.2 |
| 1988 | 10.25 | 1.5 | 10.33 | 2.1 | NA | NA | 7.90 | 2.3 |
| 1989 | 10.08 | 1.6 | 10.32 | 2.1 | NA | NA | 8.80 | 2.3 |
| 1990 | 9.92 | 1.8 | 10.13 | 2.1 | NA | NA | 8.36 | 2.1 |
| 1991 | 9.25 | 0.9 | 9.25 | 2.0 | NA | NA | 7.10 | 1.9 |
| 1992 | 8.29 | 1.2 | 8.40 | 1.7 | 7.96 | 1.7 | 5.63 | 1.7 |
| 1993 | 7.46 | 0.4 | 7.33 | 1.6 | 6.83 | 1.6 | 4.59 | 1.5 |
| 1994 | 8.42 | 0.6 | 8.35 | 1.8 | 7.86 | 1.8 | 5.33 | 1.5 |
| 1995 | 8.28 | 0.5 | 7.95 | 1.8 | 7.49 | 1.8 | 6.07 | 1.5 |
| 1996 | 8.03 | 0.5 | 7.81 | 1.7 | 7.32 | 1.7 | 5.67 | 1.4 |
| 1997 | 7.90 | 0.4 | 7.59 | 1.7 | 7.13 | 1.7 | 5.60 | 1.4 |
| 1998 | 7.12 | 0.3 | 6.95 | 1.1 | 6.59 | 1.1 | 5.59 | 1.1 |
| 1999 | 7.53 | 0.5 | 7.44 | 1.0 | 7.06 | 1.0 | 5.98 | 1.0 |
| 2000 | NA | NA | 8.05 | 1.0 | 7.72 | 1.0 | 7.04 | 1.0 |
| 2001 | NA | NA | 6.97 | 0.9 | 5.83 | 0.9 | 6.51 | 0.9 |
| 2002 | NA | NA | 6.54 | 0.6 | 5.98 | 0.6 | 4.61 | 0.7 |
| Monthly Data | ||||||||
| 2002 | ||||||||
|
January
|
NA
|
NA
|
7.00
|
0.7
|
6.49
|
0.7
|
5.16
|
0.8
|
|
February
|
NA
|
NA
|
6.84
|
0.7
|
6.32
|
0.7
|
4.98
|
0.7
|
|
March
|
NA
|
NA
|
7.07
|
0.7
|
6.58
|
0.7
|
5.09
|
0.7
|
|
April
|
NA | NA |
6.99
|
0.7 |
6.48
|
0.7 |
4.96
|
0.8 |
|
May
|
NA | NA |
6.81
|
0.7 |
6.28
|
0.7 |
4.79
|
0.7 |
|
June
|
NA | NA |
6.65
|
0.6 |
6.11
|
0.6 |
4.65
|
0.5 |
|
July
|
NA | NA |
6.49
|
0.6 |
5.93
|
0.5 |
4.51
|
0.5 |
|
August
|
NA | NA |
6.29
|
0.6 |
5.70
|
0.6 |
4.38
|
0.6 |
|
September
|
NA | NA |
6.09
|
0.6 |
5.51
|
0.6 |
4.29
|
0.6 |
| October | NA | NA | 6.12 | 0.6 | 5.50 | 0.6 | 4.27 | 0.6 |
| November | NA | NA | 6.05 | 0.6 | 5.45 | 0.6 | 4.14 | 0.6 |
| December | NA | NA | 6.05 | 0.6 | 5.45 | 0.6 | 4.12 | 0.6 |
| 2003 | ||||||||
| January | NA | NA | 6.12 | 0.6 | 5.53 | 0.6 | 4.30 | 0.7 |
| February | NA | NA | 6.11 | 0.6 | 5.50 | 0.6 | 4.27 | 0.6 |
| March | NA | NA | 6.05 | 0.6 | 5.44 | 0.6 | 4.16 | 0.7 |
*Mortgage loan interest rate data on FHA-insured loans are no longer collected by the Department of Housing and Urban Development.
1 Annual data for the FHA
rate are based on the most active (modal) quote and the secondary market
discount (excluding origination fee) until 1994. Subsequent annual and
monthly data are based on the average rate quoted and the primary market
discount (excluding origination fee).
Sources: Office of Housing, Department of Housing and Urban Development
(FHA), and Federal Home Loan Mortgage Corporation (Conventional)
http://www.freddiemac.com/pmms/
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