My parents bought their first home in 1978, 13.5% interest rate.
Fascinating chart! Seems like those that bought in 2020-2021 had the best rate in the past 30 years
I have a mortgage rate below the all time low. The golden-est handcuffs.
I wouldn’t care as much if my mortgage rate was higher if my income to house cost ratio was reasonable. And I have a cheap house relative to most Americans.
I think this would be far more interesting if you plotted this against housing as a percent of income. That trend is much more alarming.
My 15 year is 2.75. I coulda bought down rate to 2.15.
1.9% 30 year fixed for me
1.99% for 15 years with no points. Looking at rates now I so damn regret not getting 30 years and I also know I am not moving for the next 15 years.
Comparing the averages is misleading because you don’t have the 15 year mortgage data for the first ~half of the time period.
A 15 year mortgage interest rate is not 2.4% lower than a 30 year.
Now track average home prices on the other axis over that time…..
How in the hell did anyone in the early 80’s afford a mortgage?
Can you just post the graph as a .png instead of a link to a website?
I should’ve refinanced in 2020.
2.25% @ 30 fixed. Had no idea when I refid in 2021 that it would be that way. I was just doing it because it was 1.5% lower than what I already had. Just got lucky.
2.65 was not the lowest. Ours is 2.25%
Show this to the people complaining about mortgage rates being too high. It’s home prices that are too high, my friends, not mortgage rates.
16 comments
My parents bought their first home in 1978, 13.5% interest rate.
Fascinating chart! Seems like those that bought in 2020-2021 had the best rate in the past 30 years
I have a mortgage rate below the all time low. The golden-est handcuffs.
I wouldn’t care as much if my mortgage rate was higher if my income to house cost ratio was reasonable. And I have a cheap house relative to most Americans.
I think this would be far more interesting if you plotted this against housing as a percent of income. That trend is much more alarming.
My 15 year is 2.75. I coulda bought down rate to 2.15.
1.9% 30 year fixed for me
1.99% for 15 years with no points. Looking at rates now I so damn regret not getting 30 years and I also know I am not moving for the next 15 years.
Comparing the averages is misleading because you don’t have the 15 year mortgage data for the first ~half of the time period.
A 15 year mortgage interest rate is not 2.4% lower than a 30 year.
Now track average home prices on the other axis over that time…..
How in the hell did anyone in the early 80’s afford a mortgage?
Can you just post the graph as a .png instead of a link to a website?
I should’ve refinanced in 2020.
2.25% @ 30 fixed. Had no idea when I refid in 2021 that it would be that way. I was just doing it because it was 1.5% lower than what I already had. Just got lucky.
2.65 was not the lowest. Ours is 2.25%
Show this to the people complaining about mortgage rates being too high. It’s home prices that are too high, my friends, not mortgage rates.