Table
14. Mortgage Interest Rates, Average Commitment Rates, and Points: 1972-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 | ||||||||
| 1972 | 7.00 | 4.3 | 7.38 | 0.9 | NA | NA | NA | NA |
| 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 |
| Monthly Data | ||||||||
| 2000 | ||||||||
| Apr | 8.25 | 0.7 | 8.15 | 1.0 | 7.80 | 1.0 | 6.80 | 1.0 |
| May | 8.34 | 0.4 | 8.52 | 1.0 | 8.18 | 1.0 | 7.07 | 1.0 |
| June | 8.36 | 0.5 | 8.29 | 0.9 | 7.99 | 0.9 | 7.24 | 0.9 |
| July | NA* | NA* | 8.15 | 0.9 | 7.87 | 0.9 | 7.28 | 0.9 |
| Aug | NA | NA | 8.01 | 1.0 | 7.74 | 1.0 | 7.28 | 0.9 |
| Sep | NA | NA | 7.90 | 1.0 | 7.59 | 1.0 | 7.27 | 1.0 |
| Oct | NA | NA | 7.80 | 1.0 | 7.47 | 1.0 | 7.23 | 1.0 |
| Nov | NA | NA | 7.73 | 1.0 | 7.40 | 0.9 | 7.22 | 0.9 |
| Dec | NA | NA | 7.32 | 1.0 | 6.98 | 1.0 | 7.05 | 0.9 |
| 2001 | ||||||||
| Jan | NA | NA | 7.03 | 0.9 | 6.64 | 0.9 | 6.70 | 0.9 |
| Feb | NA | NA | 7.05 | 1.0 | 6.64 | 0.9 | 6.46 | 0.9 |
| Mar | NA | NA | 6.95 | 0.9 | 6.51 | 1.0 | 6.28 | 0.9 |
| Apr | NA | NA | 7.08 | 0.9 | 6.6 | 1.0 | 6.11 | 0.9 |
| May | NA | NA | 7.16 | 0.94 | 6.7 | 1.0 | 5.88 | 0.9 |
| June | NA | NA | 7.14 | 1.0 | 6.68 | 1.0 | 5.8 | 0.9 |
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)
*Mortgage loan interest rate data on
FHA-insured loans are no longer collected by the Department of Housing
and Urban Development.
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