Average Mortgage Rate




Average Mortgage Rate




Mortgages and their rates are pretty hot topics of conversation these days, with foreclosures increasing every day as people lose their homes to some pretty creative mortgage lending practices of the last few years. How does your mortgage compare?

Google makes it easy to compare mortgage rates.  As of April 28, 2011,national mortgage rates stood at:

  • 30-year fixed from 4.250% (4.790 APR)
  • 5/1 ARMfrom 3.000% (3.106 APR)
  • 15-year fixed from 3.375% (3.708 APR)

That’s the way the average mortgage rate business looks today.  Curious to know what it looked like in years past?  HSH Associates Financial Publishers has been providing data on consumer loans of all kinds, including mortgages, for the last 28 years.  In fact, they’re the largest firm in the nation to publish this type of information.  Curious to know what it looked like in years past?  The good folks at HSH tell us this:

In January 2000:

  • for a 30-year fixed rate mortgage (FRM), it’s 8.32%
  • for a 15-year fixed rate mortgage (FRM), it’s 7.92%
  • for a 1-year adjustable rate mortgage (ARM), it’s 6.66%

Want more? In January 1995, the average mortgage rate for these same type loans was:

  • for a 30-year fixed rate mortgage (FRM), it’s 9.33%
  • for a 15-year fixed rate mortgage (FRM), it’s 9.00%
  • for a 1-year adjustable rate mortgage (ARM), it’s 6.87%

Data from January 1990, reveals this average mortgage rate:

  • for a 30-year fixed rate mortgage (FRM), it’s 9.98%
  • for a 15-year fixed rate mortgage (FRM), it’s 9.71%
  • for a 1-year adjustable rate mortgage (ARM), it’s 8.39%
    This information on average mortgage rate is just the average of all mortgage rates. Extenuating circumstances, such as individual buyer credit history, cost of home, and other unique factors such as these will determine the mortgage rate each buyer will be offered, based upon their own unique qualifications.
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