Mortgage rates in the U.S. have seen dramatic highs and lows over the past six decades, shaped by inflation, economic policy, and global events. Here’s a quick look at how average 30-year fixed rates have changed by decade:
Average Rates by Decade
- 1960s – ~5.7%
Stable and affordable, with rates gradually increasing from 5% to 6.5%. - 1970s – ~8.3%
Inflation pushed rates to double digits by the end of the decade. - 1980s – ~12.7%
The highest rates in history, peaking over 16% to combat inflation. - 1990s – ~7.6%
Economic stability helped bring rates down to more manageable levels. - 2000s – ~6.1%
Rates dropped sharply after the 2008 financial crisis. - 2010s – ~3.9%
Record lows made homebuying and refinancing especially affordable. - 2020s – ~4.9% (to date)
Pandemic-era lows were followed by a sharp rise due to inflation.
Why It Matters
Today’s rates in the 6–7% range may feel high, but history shows they’re still moderate. Understanding long-term trends helps buyers and investors make informed decisions about timing, affordability, and strategy.
Whether you’re buying, selling, or just curious, knowing the big picture helps you move smart. đź’ˇ
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