Time Machine
30-Year Mortgage Rates Since 1971
The average 30-year fixed rate was 7.40% in the week of Oct 15, 2026. It peaked at 18.63% on Oct 9, 1981 and bottomed at 2.65% on Jan 7, 2021. About 48% of the weeks on record had a higher rate than today.
The same $300,000 loan at each era's average rate
Monthly principal and interest on a 30-year fixed loan. Today's rate of 7.40% gives $2,077 a month.
| Year | Average rate | Monthly payment | Interest over 30 years | Vs today |
|---|---|---|---|---|
| 1981 | 16.64% | $4,190 | $1,208,332 | +$2,113/mo |
| 1990 | 10.13% | $2,661 | $658,122 | +$584/mo |
| 2000 | 8.05% | $2,212 | $496,493 | +$135/mo |
| 2010 | 4.69% | $1,554 | $259,469 | −$523/mo |
| 2020 | 3.11% | $1,283 | $161,866 | −$794/mo |
| 2021 | 2.96% | $1,258 | $152,873 | −$819/mo |
| 2023 | 6.81% | $1,957 | $404,563 | −$120/mo |
Try your own numbers: open the mortgage calculator at today's rate.
How to read this
- The rate is a market average for the week, so it says what lenders were quoting, not what any one household paid.
- A higher rate raises the payment and, even more, the total interest, because interest accrues on the balance for 30 years.
- Rates and home prices move on different schedules. This page isolates the rate; it is not a measure of affordability.
Related: how a fixed-rate mortgage works, mortgage refinance calculator, and the current rate on Today's Money.
Questions
- Where do these rates come from?
- From Freddie Mac’s Primary Mortgage Market Survey, a weekly average of the rates lenders quote on 30-year fixed loans, republished by the Federal Reserve Bank of St. Louis (FRED series MORTGAGE30US). It records the market average, not the rate any one borrower was offered.
- Why does the payment column ignore taxes and insurance?
- It shows principal and interest only, so the effect of the rate is visible on its own. A real payment also includes property taxes, homeowners insurance and, with a small down payment, mortgage insurance.
- Does a lower rate always mean a cheaper house?
- No. Rates and home prices move separately, and low-rate periods have often come with higher prices. The table isolates the rate; it does not say what a home cost in that year.
Sources
Educational illustration, not financial advice or a rate quote.