This is a great chart that quickly shows two decades, I think it is a great tool to use!  Think back to the 80's when Rates were well into the Double Digits.  20 years does not show the REALLLLLY high rates.

Gabe, I wish I had an answer to that question... If I did I would probably be on a beach with a laptop, a wireless connection, churning money in the market making a fortune while sipping a drink with an umbrella in it!  Reality is that mortgages are still the evil step child that investors do not want to touch, so the lack of buyers are keeping rates where they are. Uncle Sam is the biggest buyer of MBS now and it is anticipated that the Govt will own about 2.5 Trillion in mortgages when this is all over. With out buyers the price can not go up and if the price does not climb, the yield will not drop. Even in a normal market where there would be buyers I would think that any knee jerk reaction in the market would be more likely a bump up in rates than a significant drop.

Harry: I bite my tongue every time people say "gee that's high"  I remember the first time I quoted 6's  and people were complaining it was high... no one has a memory for where things really have been or even where they truly are. much the same as when you list a house and people think their neighbors house sold for 100k more than it actually did.  My first house 11.25%, and my first refi: 9.25% and that was a 5 yr balloon!

Matt, that is true, and why I mentioned it (#4) but we have always had small loan add ons as an industry....   Last count I think there were 49 different add-ons for LTV and Credit score alone!

Hi Mike, keep in mind that that weekly number is a national average of all loans WITH points.  so it is an idea of where rates are, but may not be "fact" for your area or your specific buyer

HELLLOOOO Kara! Its Pork roll Damnit!  thanks for stopping by!

Kathleen, this is my 22nd year in this crazy job.  perhaps I am getting old too??!! Nah, NEVER!

Cynthia, I think this graph would be great to use for both buyers and sellers. may be a good addition to a listing pack?

Jon, I am glad you found it useful!

Donne, it is fun when you hear people say "Gee thats a high rate" these days isnt it?  Sometimes I laugh out loud and then have to explain that I paid more than double for the rate on my first house!