Historical Interest Rates

Many of us (myself included) tend to take these historically low interest rates for granted. Many don’t realize how good we have it when it comes to financing their home. To give some historical perspective, here’s a taste of where 30 year fixed mortgage rates have been over the years:

April 1950 4%
October 1966 6%
July 1974 9%
February 1980 12%
September 1981 17.5%
March 1985 13%
November 1988 10%
August 1992 7.5%
July 1996 8.25%
January 2001 7.03%
July 2004 6%

Today 5.25%

Source: Derek Harris from the Arlington Bank