In October, mortgage rates in the United States hit a 16-year high of 6.75%. This marked the seventh weekly increase in a row. This spike has contributed to the biggest slowdowns in home loan applications since the height of the pandemic.
To determine mortgage rates for the last 50 years, 24/7 Wall St. reviewed historical mortgage data from Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac. We listed the annual average 30-year fixed-rate mortgage for each year.
The recent increase in mortgage rates compounds several other pressures currently facing potential homebuyers. Home prices are skyrocketing, and rising inflation is making it harder for potential buyers to save money for a downpayment. Inflation and higher interest rates are also making it more difficult for current homeowners to pay their mortgages, putting many borrowers at risk of foreclosure. Click here to see the most at-risk housing markets.
A tight housing market and the after-effects of the COVID-19 recession have also put renters in a precarious position, with many facing possible eviction. Click here to see the states with the most renters at risk of eviction.
Click here to see the mortgage rate in America every year since 1972
Click here to see our detailed methodology
1972
> Avg. 30-year fixed mortgage rate: 7.38%
> Avg. inflation-adjusted monthly mortgage payment: $1,127
> Avg. inflation-adjusted home sale price: $207,018
> Homeownership rate: 64.38%
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1973
> Avg. 30-year fixed mortgage rate: 8.04%
> Avg. inflation-adjusted monthly mortgage payment: $1,346
> Avg. inflation-adjusted home sale price: $226,845
> Homeownership rate: 64.53%
1974
> Avg. 30-year fixed mortgage rate: 9.19%
> Avg. inflation-adjusted monthly mortgage payment: $1,520
> Avg. inflation-adjusted home sale price: $223,865
> Homeownership rate: 64.65%
1975
> Avg. 30-year fixed mortgage rate: 9.05%
> Avg. inflation-adjusted monthly mortgage payment: $1,502
> Avg. inflation-adjusted home sale price: $224,652
> Homeownership rate: 64.60%
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1976
> Avg. 30-year fixed mortgage rate: 8.87%
> Avg. inflation-adjusted monthly mortgage payment: $1,568
> Avg. inflation-adjusted home sale price: $239,339
> Homeownership rate: 64.73%
1977
> Avg. 30-year fixed mortgage rate: 8.85%
> Avg. inflation-adjusted monthly mortgage payment: $1,659
> Avg. inflation-adjusted home sale price: $253,753
> Homeownership rate: 64.80%
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1978
> Avg. 30-year fixed mortgage rate: 9.64%
> Avg. inflation-adjusted monthly mortgage payment: $1,938
> Avg. inflation-adjusted home sale price: $271,967
> Homeownership rate: 64.95%
1979
> Avg. 30-year fixed mortgage rate: 11.20%
> Avg. inflation-adjusted monthly mortgage payment: $2,326
> Avg. inflation-adjusted home sale price: $280,590
> Homeownership rate: 65.55%
1980
> Avg. 30-year fixed mortgage rate: 13.74%
> Avg. inflation-adjusted monthly mortgage payment: $2,681
> Avg. inflation-adjusted home sale price: $263,057
> Homeownership rate: 65.58%
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1981
> Avg. 30-year fixed mortgage rate: 16.63%
> Avg. inflation-adjusted monthly mortgage payment: $3,203
> Avg. inflation-adjusted home sale price: $259,059
> Homeownership rate: 65.43%
1982
> Avg. 30-year fixed mortgage rate: 16.04%
> Avg. inflation-adjusted monthly mortgage payment: $2,940
> Avg. inflation-adjusted home sale price: $246,671
> Homeownership rate: 64.78%
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1983
> Avg. 30-year fixed mortgage rate: 13.24%
> Avg. inflation-adjusted monthly mortgage payment: $2,511
> Avg. inflation-adjusted home sale price: $255,800
> Homeownership rate: 64.65%
24/7 Wall St.
1984
> Avg. 30-year fixed mortgage rate: 13.88%
> Avg. inflation-adjusted monthly mortgage payment: $2,744
> Avg. inflation-adjusted home sale price: $266,513
> Homeownership rate: 64.48%
1985
> Avg. 30-year fixed mortgage rate: 12.43%
> Avg. inflation-adjusted monthly mortgage payment: $2,448
> Avg. inflation-adjusted home sale price: $265,786
> Homeownership rate: 63.90%
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1986
> Avg. 30-year fixed mortgage rate: 10.19%
> Avg. inflation-adjusted monthly mortgage payment: $2,183
> Avg. inflation-adjusted home sale price: $289,670
> Homeownership rate: 63.78%
1987
> Avg. 30-year fixed mortgage rate: 10.21%
> Avg. inflation-adjusted monthly mortgage payment: $2,399
> Avg. inflation-adjusted home sale price: $317,682
> Homeownership rate: 63.98%
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1988
> Avg. 30-year fixed mortgage rate: 10.34%
> Avg. inflation-adjusted monthly mortgage payment: $2,537
> Avg. inflation-adjusted home sale price: $331,682
> Homeownership rate: 63.80%
24/7 Wall St.
1989
> Avg. 30-year fixed mortgage rate: 10.32%
> Avg. inflation-adjusted monthly mortgage payment: $2,600
> Avg. inflation-adjusted home sale price: $340,459
> Homeownership rate: 63.90%
1990
> Avg. 30-year fixed mortgage rate: 10.13%
> Avg. inflation-adjusted monthly mortgage payment: $2,436
> Avg. inflation-adjusted home sale price: $325,177
> Homeownership rate: 63.95%
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1991
> Avg. 30-year fixed mortgage rate: 9.25%
> Avg. inflation-adjusted monthly mortgage payment: $2,096
> Avg. inflation-adjusted home sale price: $306,630
> Homeownership rate: 64.05%
1992
> Avg. 30-year fixed mortgage rate: 8.39%
> Avg. inflation-adjusted monthly mortgage payment: $1,805
> Avg. inflation-adjusted home sale price: $291,400
> Homeownership rate: 64.15%
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1993
> Avg. 30-year fixed mortgage rate: 7.31%
> Avg. inflation-adjusted monthly mortgage payment: $1,564
> Avg. inflation-adjusted home sale price: $289,999
> Homeownership rate: 64.48%
1994
> Avg. 30-year fixed mortgage rate: 8.38%
> Avg. inflation-adjusted monthly mortgage payment: $1,830
> Avg. inflation-adjusted home sale price: $295,777
> Homeownership rate: 63.98%
1995
> Avg. 30-year fixed mortgage rate: 7.93%
> Avg. inflation-adjusted monthly mortgage payment: $1,729
> Avg. inflation-adjusted home sale price: $295,444
> Homeownership rate: 64.75%
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1996
> Avg. 30-year fixed mortgage rate: 7.81%
> Avg. inflation-adjusted monthly mortgage payment: $1,735
> Avg. inflation-adjusted home sale price: $300,894
> Homeownership rate: 65.38%
1997
> Avg. 30-year fixed mortgage rate: 7.60%
> Avg. inflation-adjusted monthly mortgage payment: $1,747
> Avg. inflation-adjusted home sale price: $311,469
> Homeownership rate: 65.70%
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1998
> Avg. 30-year fixed mortgage rate: 6.94%
> Avg. inflation-adjusted monthly mortgage payment: $1,621
> Avg. inflation-adjusted home sale price: $316,613
> Homeownership rate: 66.28%
24/7 Wall St.
1999
> Avg. 30-year fixed mortgage rate: 7.44%
> Avg. inflation-adjusted monthly mortgage payment: $1,829
> Avg. inflation-adjusted home sale price: $333,102
> Homeownership rate: 66.80%
2000
> Avg. 30-year fixed mortgage rate: 8.05%
> Avg. inflation-adjusted monthly mortgage payment: $2,027
> Avg. inflation-adjusted home sale price: $341,052
> Homeownership rate: 67.38%
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2001
> Avg. 30-year fixed mortgage rate: 6.97%
> Avg. inflation-adjusted monthly mortgage payment: $1,756
> Avg. inflation-adjusted home sale price: $341,549
> Homeownership rate: 67.83%
2002
> Avg. 30-year fixed mortgage rate: 6.54%
> Avg. inflation-adjusted monthly mortgage payment: $1,739
> Avg. inflation-adjusted home sale price: $360,677
> Homeownership rate: 67.93%
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2003
> Avg. 30-year fixed mortgage rate: 5.83%
> Avg. inflation-adjusted monthly mortgage payment: $1,632
> Avg. inflation-adjusted home sale price: $379,779
> Homeownership rate: 68.25%
2004
> Avg. 30-year fixed mortgage rate: 5.84%
> Avg. inflation-adjusted monthly mortgage payment: $1,774
> Avg. inflation-adjusted home sale price: $412,282
> Homeownership rate: 69.00%
2005
> Avg. 30-year fixed mortgage rate: 5.87%
> Avg. inflation-adjusted monthly mortgage payment: $1,865
> Avg. inflation-adjusted home sale price: $431,458
> Homeownership rate: 68.88%
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2006
> Avg. 30-year fixed mortgage rate: 6.41%
> Avg. inflation-adjusted monthly mortgage payment: $2,034
> Avg. inflation-adjusted home sale price: $430,500
> Homeownership rate: 68.78%
2007
> Avg. 30-year fixed mortgage rate: 6.34%
> Avg. inflation-adjusted monthly mortgage payment: $2,006
> Avg. inflation-adjusted home sale price: $429,114
> Homeownership rate: 68.15%
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2008
> Avg. 30-year fixed mortgage rate: 6.03%
> Avg. inflation-adjusted monthly mortgage payment: $1,714
> Avg. inflation-adjusted home sale price: $385,574
> Homeownership rate: 67.83%
2009
> Avg. 30-year fixed mortgage rate: 5.04%
> Avg. inflation-adjusted monthly mortgage payment: $1,330
> Avg. inflation-adjusted home sale price: $358,254
> Homeownership rate: 67.38%
2010
> Avg. 30-year fixed mortgage rate: 4.69%
> Avg. inflation-adjusted monthly mortgage payment: $1,226
> Avg. inflation-adjusted home sale price: $355,074
> Homeownership rate: 66.85%
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2011
> Avg. 30-year fixed mortgage rate: 4.45%
> Avg. inflation-adjusted monthly mortgage payment: $1,107
> Avg. inflation-adjusted home sale price: $337,903
> Homeownership rate: 66.15%
2012
> Avg. 30-year fixed mortgage rate: 3.66%
> Avg. inflation-adjusted monthly mortgage payment: $972
> Avg. inflation-adjusted home sale price: $361,080
> Homeownership rate: 65.45%
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2013
> Avg. 30-year fixed mortgage rate: 3.98%
> Avg. inflation-adjusted monthly mortgage payment: $1,157
> Avg. inflation-adjusted home sale price: $395,205
> Homeownership rate: 65.13%
2014
> Avg. 30-year fixed mortgage rate: 4.17%
> Avg. inflation-adjusted monthly mortgage payment: $1,279
> Avg. inflation-adjusted home sale price: $416,701
> Homeownership rate: 64.48%
2015
> Avg. 30-year fixed mortgage rate: 3.85%
> Avg. inflation-adjusted monthly mortgage payment: $1,196
> Avg. inflation-adjusted home sale price: $422,192
> Homeownership rate: 63.65%
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2016
> Avg. 30-year fixed mortgage rate: 3.65%
> Avg. inflation-adjusted monthly mortgage payment: $1,145
> Avg. inflation-adjusted home sale price: $426,625
> Homeownership rate: 63.40%
2017
> Avg. 30-year fixed mortgage rate: 3.99%
> Avg. inflation-adjusted monthly mortgage payment: $1,308
> Avg. inflation-adjusted home sale price: $445,505
> Homeownership rate: 63.85%
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2018
> Avg. 30-year fixed mortgage rate: 4.54%
> Avg. inflation-adjusted monthly mortgage payment: $1,454
> Avg. inflation-adjusted home sale price: $434,996
> Homeownership rate: 64.43%
2019
> Avg. 30-year fixed mortgage rate: 3.94%
> Avg. inflation-adjusted monthly mortgage payment: $1,233
> Avg. inflation-adjusted home sale price: $426,034
> Homeownership rate: 64.55%
2020
> Avg. 30-year fixed mortgage rate: 3.11%
> Avg. inflation-adjusted monthly mortgage payment: $984
> Avg. inflation-adjusted home sale price: $429,612
> Homeownership rate: 66.60%
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2021
> Avg. 30-year fixed mortgage rate: 2.96%
> Avg. inflation-adjusted monthly mortgage payment: $1,032
> Avg. inflation-adjusted home sale price: $475,041
> Homeownership rate: 65.48%
Methodology
To determine mortgage rates for the last 50 years, 24/7 Wall St. reviewed historical mortgage data from Freddie Mac. We listed the annual average 30-year fixed-rate mortgage for each year. Data on average annual monthly mortgage payment each year was calculated using average annual sale prices of new, single-family homes that year from the U.S. Census Bureau – assuming an average down payment of 12%, per the National Association of Realtors – adjusted for inflation using the Bureau of Labor Statistics’ consumer price index for all urban consumers. Data on homeownership rates came from the Census Bureau’s Current Population Survey and Housing Vacancy Survey.
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