Mortgage rates chart: history and trends
Every weekly 30-year and 15-year fixed rate since 1971, from Freddie Mac's survey, with the 10-year Treasury yield that drives them. Pick a period, hover any week, or download the data.
Latest week: November 5, 2026 · Freddie Mac PMMS via FRED · updated every Thursday
Mortgage rates chart since 1971
Download all 2,902 weeks as CSV · Pull it into Google Sheets
Mortgage rate trends right now
- This week: the 30-year fixed averaged 7.18%, down 0.06 points from 7.24%; the 15-year averaged 6.57%.
- Last 4 and 13 weeks: down from 7.40% a month ago and up from 6.69% three months ago.
- Past year: 6.22% a year ago; low 5.98% (Feb 26, 2026), high 7.40% (Oct 8, 2026). Today's rate is 1.20 points above the low.
- Against the long run: below the 7.68% average since 1971, above the 10-year average of 5.02% and above the 5-year average of 6.29%.
- By loan type (Optimal Blue locked rates, Nov 5, 2026): FHA 30-year 6.89% (down 0.11 on the week); VA 30-year 6.71% (down 0.05 on the week); Jumbo 30-year 7.25% (down 0.11 on the week). Turn on the FHA, VA and jumbo lines on the chart to compare them since 2017.
- Against the 10-year Treasury: the yield is 4.84%, so the mortgage spread is 2.34 points — wider than the 1.77 points average since 1971. A wide spread means mortgage rates have room to fall even if Treasury yields hold still.
Want to know what a rate means for your payment? Run it through the mortgage payment calculator, or check a lender's quote against this week's average with the 30-year rate check.
Mortgage rates by year
Yearly averages of the weekly survey. 2026 is year-to-date (44 weeks). In 2025 the 30-year fixed averaged 6.60%, between 6.15% and 7.04%.
| Year | 30-yr avg | 30-yr low | 30-yr high | 15-yr avg | 10-yr Treasury | Spread |
|---|---|---|---|---|---|---|
| 2026 YTD | 6.53% | 5.98% | 7.40% | 5.88% | 4.53% | 2.00 |
| 2025 | 6.60% | 6.15% | 7.04% | 5.78% | 4.29% | 2.31 |
| 2024 | 6.72% | 6.08% | 7.22% | 5.96% | 4.21% | 2.51 |
| 2023 | 6.81% | 6.09% | 7.79% | 6.11% | 3.96% | 2.85 |
| 2022 | 5.34% | 3.22% | 7.08% | 4.58% | 2.95% | 2.39 |
| 2021 | 2.96% | 2.65% | 3.18% | 2.27% | 1.45% | 1.51 |
| 2020 | 3.11% | 2.66% | 3.72% | 2.60% | 0.90% | 2.21 |
| 2019 | 3.94% | 3.49% | 4.51% | 3.39% | 2.14% | 1.80 |
| 2018 | 4.54% | 3.95% | 4.94% | 4.00% | 2.91% | 1.63 |
| 2017 | 3.99% | 3.78% | 4.30% | 3.27% | 2.33% | 1.66 |
| 2016 | 3.65% | 3.41% | 4.32% | 2.93% | 1.84% | 1.81 |
| 2015 | 3.85% | 3.59% | 4.09% | 3.09% | 2.14% | 1.71 |
| 2014 | 4.17% | 3.80% | 4.53% | 3.29% | 2.54% | 1.63 |
| 2013 | 3.98% | 3.34% | 4.58% | 3.10% | 2.35% | 1.63 |
| 2012 | 3.66% | 3.31% | 4.08% | 2.93% | 1.81% | 1.85 |
| 2011 | 4.45% | 3.91% | 5.05% | 3.68% | 2.78% | 1.67 |
| 2010 | 4.69% | 4.17% | 5.21% | 4.10% | 3.21% | 1.48 |
| 2009 | 5.04% | 4.71% | 5.59% | 4.57% | 3.27% | 1.77 |
| 2008 | 6.03% | 5.10% | 6.63% | 5.62% | 3.65% | 2.38 |
| 2007 | 6.34% | 5.96% | 6.74% | 6.03% | 4.64% | 1.70 |
| 2006 | 6.41% | 6.10% | 6.80% | 6.07% | 4.80% | 1.61 |
| 2005 | 5.87% | 5.53% | 6.37% | 5.42% | 4.28% | 1.59 |
| 2004 | 5.84% | 5.38% | 6.34% | 5.21% | 4.27% | 1.57 |
| 2003 | 5.83% | 5.21% | 6.44% | 5.17% | 4.01% | 1.82 |
| 2002 | 6.54% | 5.93% | 7.18% | 5.98% | 4.61% | 1.93 |
| 2001 | 6.97% | 6.45% | 7.24% | 6.50% | 5.03% | 1.94 |
| 2000 | 8.05% | 7.13% | 8.64% | 7.72% | 6.01% | 2.04 |
| 1999 | 7.44% | 6.74% | 8.15% | 7.06% | 5.66% | 1.78 |
| 1998 | 6.94% | 6.49% | 7.22% | 6.59% | 5.25% | 1.69 |
| 1997 | 7.60% | 6.99% | 8.18% | 7.13% | 6.35% | 1.25 |
| 1996 | 7.81% | 6.94% | 8.42% | 7.32% | 6.44% | 1.37 |
| 1995 | 7.93% | 7.11% | 9.22% | 7.48% | 6.56% | 1.37 |
| 1994 | 8.38% | 6.97% | 9.25% | 7.89% | 7.11% | 1.27 |
| 1993 | 7.31% | 6.74% | 8.07% | 6.82% | 5.86% | 1.45 |
| 1992 | 8.39% | 7.84% | 9.03% | 7.94% | 7.00% | 1.39 |
| 1991 | 9.25% | 8.35% | 9.75% | 8.40% | 7.85% | 1.40 |
| 1990 | 10.13% | 9.56% | 10.67% | — | 8.54% | 1.59 |
| 1989 | 10.32% | 9.68% | 11.22% | — | 8.48% | 1.84 |
| 1988 | 10.34% | 9.84% | 10.77% | — | 8.85% | 1.49 |
| 1987 | 10.21% | 9.03% | 11.58% | — | 8.39% | 1.82 |
| 1986 | 10.19% | 9.29% | 10.99% | — | 7.69% | 2.50 |
| 1985 | 12.43% | 11.09% | 13.29% | — | 10.62% | 1.81 |
| 1984 | 13.88% | 13.14% | 14.68% | — | 12.45% | 1.43 |
| 1983 | 13.24% | 12.55% | 13.89% | — | 11.12% | 2.12 |
| 1982 | 16.04% | 13.57% | 17.66% | — | 12.93% | 3.11 |
| 1981 | 16.64% | 14.80% | 18.63% | — | 13.88% | 2.76 |
| 1980 | 13.74% | 12.18% | 16.35% | — | 11.42% | 2.32 |
| 1979 | 11.20% | 10.38% | 12.90% | — | 9.44% | 1.76 |
| 1978 | 9.64% | 8.98% | 10.38% | — | 8.42% | 1.22 |
| 1977 | 8.85% | 8.65% | 9.00% | — | 7.42% | 1.43 |
| 1976 | 8.87% | 8.70% | 9.10% | — | 7.60% | 1.27 |
| 1975 | 9.05% | 8.80% | 9.60% | — | 7.98% | 1.07 |
| 1974 | 9.19% | 8.40% | 10.03% | — | 7.56% | 1.63 |
| 1973 | 8.04% | 7.43% | 8.85% | — | 6.85% | 1.19 |
| 1972 | 7.38% | 7.23% | 7.46% | — | 6.21% | 1.17 |
| 1971 | 7.54% | 7.29% | 7.73% | — | 6.19% | 1.35 |
Record highs, lows and averages by decade
| Decade | Average | Lowest week | Highest week |
|---|---|---|---|
| 1970s | 8.90% | 7.23% March 1972 | 12.90% November 1979 |
| 1980s | 12.71% | 9.03% March 1987 | 18.63% October 1981 |
| 1990s | 8.12% | 6.49% October 1998 | 10.67% May 1990 |
| 2000s | 6.29% | 4.71% December 2009 | 8.64% May 2000 |
| 2010s | 4.09% | 3.31% November 2012 | 5.21% April 2010 |
| 2020s (to 2026) | 5.41% | 2.65% January 2021 | 7.79% October 2023 |
The all-time high, 18.63% in the week of October 9, 1981, came as the Federal Reserve pushed short-term rates near 20% to break inflation. The all-time low, 2.65% on January 7, 2021, followed the Fed's emergency cuts and bond buying in 2020. Then, in 2022 alone, the rate climbed from 3.22% to 7.08%.
What moves mortgage rates
Mortgage rates are set in the bond market, not by the Federal Reserve directly. Lenders sell most loans as mortgage-backed securities, and investors price those against the 10-year Treasury yield plus a spread for prepayment and credit risk — that's why the dashed line on the chart moves in step with the 30-year rate. Inflation, jobs reports and Fed policy move the Treasury yield; the spread widens when markets are volatile. For a fuller explanation, read what moves mortgage rates.
The survey shows the average rate for borrowers with strong credit and 20% down. Your own rate depends on your credit score, down payment and loan type — see mortgage rates by credit score and today's rates by loan type.
Mortgage rates and housing affordability
Rates are half of what a home costs each month; prices are the other half. At this week's 7.18% rate, a home at the median sales price of houses sold ($393,300, U.S. Census, Q3 2026) costs $2,131 a month in principal and interest with 20% down. Keeping that under 28% of gross income takes $91,349 a year, against a median household income of $87,460 (2025) — a gap of $3,889.
| Year | Median price | 30-yr rate | Monthly P&I | Income needed | Index |
|---|---|---|---|---|---|
| 2026 YTD | $405,100 | 6.53% | $2,055 | $88,069 | — |
| 2025 | $415,400 | 6.60% | $2,121 | $90,913 | 96.2 |
| 2024 | $418,975 | 6.72% | $2,168 | $92,895 | 89.5 |
| 2023 | $426,525 | 6.81% | $2,226 | $95,401 | 84.5 |
| 2022 | $432,950 | 5.34% | $1,933 | $82,836 | 90 |
| 2021 | $383,000 | 2.96% | $1,285 | $55,063 | 128.5 |
| 2020 | $328,150 | 3.11% | $1,123 | $48,115 | 141.4 |
| 2019 | $320,250 | 3.94% | $1,214 | $52,014 | 132.1 |
The full series, by state, with a CSV download, is in the housing affordability index.
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Mortgage rate history: common questions
What is the lowest mortgage rate in history?
2.65% for a 30-year fixed, the week of January 7, 2021 — the lowest in Freddie Mac's survey, which began in April 1971. The 15-year fixed bottomed at 2.10% the week of July 29, 2021.
Both came after the Federal Reserve cut its policy rate to near zero in 2020.
What was the highest mortgage rate ever?
18.63% for a 30-year fixed, the week of October 9, 1981, when the Federal Reserve was raising rates to fight double-digit inflation. The whole 1980s averaged 12.71%. The 15-year series starts in 1991; its peak is 8.89% (December 16, 1994).
What is the average mortgage rate historically?
7.68% for a 30-year fixed, averaging every week since April 1971. By decade: 1970s 8.90%, 1980s 12.71%, 1990s 8.12%, 2000s 6.29%, 2010s 4.09%, 2020s 5.41%. Over the last 10 years it has averaged 5.02%, and over the last 5 years 6.29%.
Are mortgage rates going up or down?
This week the 30-year fixed averaged 7.18%, down 0.06 points from the week before. Four weeks ago it was 7.40%, and a year ago 6.22%. Over the past 52 weeks it ranged from 5.98% to 7.40%.
We don't publish forecasts — the 10-year Treasury yield on the chart is the best single indicator of where mortgage rates head next.
Why do mortgage rates follow the 10-year Treasury yield?
Most mortgages are paid off or refinanced within about ten years, so investors price mortgage bonds against the 10-year Treasury and add a premium for prepayment and credit risk.
Since 1971 the 30-year rate has averaged 1.77 points above the 10-year yield; this week the gap is 2.34 points (7.18% vs 4.84%).
Why is the 15-year mortgage rate lower than the 30-year?
A lender's money is out for a shorter time, so there is less interest-rate and prepayment risk to price in. Since 1991 the 15-year has averaged 0.58 points below the 30-year; this week it's 0.61 points lower (6.57% vs 7.18%). The trade-off is a higher monthly payment.
Is a mortgage rate of 7.18% high?
Against history, no: 7.18% is below the 7.68% average since 1971 and higher than 49% of all weeks on record. Against the last decade, yes — the 10-year average is 5.02%, held down by the 2.65%–3% rates of 2020–2021.
How often is this mortgage rate chart updated?
Weekly. Freddie Mac publishes its survey every Thursday (Wednesday in a holiday week), and this chart, the tables and the CSV download rebuild the same day. The latest week shown is November 5, 2026.
Sources
- Freddie Mac — Primary Mortgage Market Survey (weekly average rates)
- FRED — 30-Year Fixed Rate Mortgage Average (MORTGAGE30US)
- FRED — 15-Year Fixed Rate Mortgage Average (MORTGAGE15US)
- FRED — 10-Year Treasury Constant Maturity Rate (DGS10)
- CFPB — Loan Estimate explainer
How the figures on this site are calculated and tested: methodology · editorial policy.
Survey averages describe borrowers with strong credit and 20% down; they are not offers. Freddie Mac changed its survey method in November 2022 (application data instead of a lender poll), so the newest weeks aren't measured exactly like the 1970s ones.