Home Financing

Freddie Mac (Federal Home Loan Mortgage Corporation)
Primary Mortgage Market Survey

Monthly Average Commitment Rate on 30-Year FRMs in the North Central Region

Here is a look at a time line break down of home interest rates from 1980 to 2008.  As you can see interest rates are great so now is a great time to buy a home.  Take a look back the First Quarter of 1982 when the interest rate was 17.41%, in January of 2008 interest rates were at 5.73%.  That is a difference of 11.68% from 1982 to present.  Interest rates today are at an all time low making now a great time to own your very own home.

  2000 2001 2002 2003 2004 2005 2006 2007

2008

 2009
January 8.23 7.06 7.09 6.03 5.79 5.75 6.23 6.29 5.73  
February 8.36 7.08 6.89 5.93 5.63 5.66 6.35 6.25    
March 8.25 7.01 7.12 5.83 5.45 6.03 6.40 6.19    
April 8.17 7.13 7.05 5.90 5.95 5.99 6.60 6.23    
May 8.54 7.18 6.88 5.49 6.34 5.82 6.70 6.29    
June 8.33 7.17 6.73 5.32 6.38 5.68 6.78 6.69    
July 8.17 7.16 6.56 5.87 6.11 5.80 6.81 6.74    
August 8.04 7.01 6.40 6.40 5.97 5.92 6.57 6.58    
September 7.93 6.83 6.21 6.19 5.85 5.87 6.46 6.41    
October 7.83 6.66 6.21 6.0 5.82 6.14 6.40 6.41    
November 7.78 6.72 6.15 5.96 5.84 6.41 6.27 6.25    
December 7.35 7.15 6.14 5.94 5.80 6.40 6.20 6.14    
Annual Avg. 8.08 7.01 6.62 5.90 5.91 5.96 6.48 6.37    

 

  1991 1992 1993 1994 1995 1996 1997 1998 1999
January 9.64 8.52 8.10 7.13 9.18 7.08 7.89 7.06 6.85
February 9.37 8.86 7.75 7.20 8.87 7.22 7.74 7.14 6.87
March 9.50 9.06 7.55 7.79 8.49 7.75 7.99 7.23 7.08
April 9.50 8.95 7.55 8.44 8.32 7.99 8.22 7.26 6.96
May 9.47 8.72 7.54 8.66 7.99 8.15 8.05 7.21 7.20
June 9.62 8.56 7.48 8.51 7.59 8.35 7.79 7.09 7.62
July 9.58 8.21 7.27 8.67 7.60 8.30 7.56 7.03 7.68
August 9.24 8.09 7.17 8.55 7.86 8.01 7.61 6.99 7.97
September 9.01 7.99 6.98 8.71 7.66 8.31 7.56 6.79 7.84
October 8.86 8.15 6.91 8.97 7.52 7.91 7.41 6.83 7.94
November 8.71 8.36 7.22 9.20 7.41 7.64 7.31 6.94 7.74
December 8.50 8.28 7.27 9.23 7.21 7.69

7.17

 6.81 7.92
Annual Avg. 9.25 8.48 7.40 8.47 7.98 7.87 7.69 7.03 7.47


Quarterly Average Commitment Rate on 30-Year FRMs in the North Central Region

  2000 2001 2002 2003 2004 2005 2006 2007 2008

2009
1Q

8.28

  7.05 7.03 5.93 5.62 5.81 6.33 6.24    
2Q 8.35 7.16   6.89 5.57 6.22 5.83 6.69 6.40    
3Q 8.05 7.00   6.15 6.14 5.97 5.86 6.61 6.58    
4Q 7.65 6.84   6.17 5.96 5.82 6.32 6.29 6.27    
Annual Avg. 8.08 7.01   6.62 5.90 5.91 5.96 6.48 6.37    

 

 

1990

 1991 1992 1993 1994 1995 1996 1997 1998

1999
1Q 10.12 9.50 8.81 7.80 7.41 8.85 7.35 7.89 7.14

6.93
2Q 10.34 9.53 8.74 7.52 8.53 7.97 8.16 8.02

7.19

7.26
3Q 10.11 9.28 8.10 7.14 8.64 7.71 8.21 7.58

6.94

 7.83
4Q 9.95 8.69 8.26 7.14 9.13 7.38 7.76

7.30

6.86

 7.86
Annual Avg.

10.13

 9.25 8.48 7.40 8.47 7.98 7.87 7.69

7.03

 7.47

 

  1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
1Q 13.73 15.14 17.41 13.03 13.33 13.06 10.56 9.11 10.07 10.80
2Q 14.43 16.23 16.76 12.76 14.00 12.78 10.26 10.32 10.37 10.67
3Q 12.65 17.42 16.17 13.65 14.50 12.14 10.24 10.50 10.50 10.00
4Q 14.26 17.74 14.02 13.47 13.65 11.73 9.67 10.85 10.39 9.82
Annual Avg. 13.77 16.63 16.09 13.23 13.87 12.42 10.19 10.20 10.34 10.32

 

The interest rates shown are a composite of closing rates for conventional, 30-year, fixed rate mortgages on existing single-family homes in the North Central region as reported by the Federal Home Loan Mortgage Corporation.

www.richardives.remax-ni.com/

Richard Ives, ABR, e-PRO, SRES, AHWD, RECS

Broker/Instructor 
Make An Intelligent Move with Richard Ives



www.richardives.remax-ni.com/

richardives@remax.net

 

  

Richard Ives, Broker &  Instructor for all of your real estate needs.

www.richardives.remax-ni.com/

 

 

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Real Estate Agent: Richard Ives (RE/MAX AT HOME)
Richard Ives
Arlington Heights, IL
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