interest rate history: Mortgage Rates: Where they were, Now and a forecast
- 05/06/20 08:41 AM
I spent an hour in a conference last week with the Chief Economist at the Mortgage Bankers association and he provided us so much information the call could have actually been Much Longer (and welcomed believe it or not) one of the charts he shared is this one with a bit of a rate history and forecast for the next few years:
If you'd like to see a video version of this blog you can watch it here:
https://secure.vidyard.com/organizations/317888/players/uqfaGzvJAFPy5uKbHV3WnR?edit=true )
As you can see we came into the year 2000 with rates in the 8's for a thirty year mortgage. People forget that 4's were not the norm … (2 comments)
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interest rate history: Mortgage Rates Are On The Rise: Here is the History of Rates
- 05/10/18 11:21 AM
Don't be surprised when you start seeing 5%
2018 has been the fastest run up in interest rates we have seen in quite some time, with a 30 Year Fixed rate fast approaching the 5% mark for the first time in years I thought it would be a good idea to review the past few decades.
I chose 1987 as a starting point for this example since that is the year I started in the Mortgage Business. As you can see from the chart below the average rate on a 30yr fixed in 1987 was 10.21%. What that chart does not show is … (0 comments)
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interest rate history: Rates Today: 50% of the 30yr Average
- 01/21/15 10:48 PM
Here is a chart showing the past 30 year history of a 30yr Fixed Rate Mortgage... It is a great visual to see JUST HOW GOOD it is right NOW to buy a home:
Have a great week
Rob
Robert Rauf
Mortgage Loan Originator NMLS ID# 248937
http://www.homebridge.com/RobertRauf
or my blog: http://activerain.com/blogs/rrauf
Office: (732)908-4868
RRauf@HomeBridge.com
www.RobertRauf.com
Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 16 Madison Avenue, Building 2 Suite 2D Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com for … (1 comments)
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interest rate history: Big improvement in Rates last week
- 09/23/13 12:27 AM
In The Interest Rate World
The chart below is the history of interest rates, one of my favorite visuals to share with our clients. This data is close to 3 months old now but still clearly shows the big picture. After a big bump up the past few months we had a big drop last week.
Two things happened in the past week that helped to settle the interest rate market down. First- Lawrence Summers unexpectedly withdrew from consideration for Fed Chief. His withdrawal leaves Janet Yellen, the current Fed Vice-Chair, to replace Bernanke. She is expected to continue … (2 comments)
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interest rate history: A 30yr history of the 30yr Rate- A clear visual of how low rates are.
- 01/25/13 12:18 AM
Here is a clear example of how low rates are today, one of the most affordable times in history to buy.
Have a great week!
Rob
Robert Rauf
Mortgage Loan Originator
NMLS ID# 248937
http://robertrauf.remn.com/Default.aspx or my blog: http://activerain.com/blogs/rrauf
(732)557-6920 x102
RRauf@REMN.com
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network Inc.
Real Estate Mortgage Network, Inc. is located at 16 Madison Avenue, Building 2 Suite 2D Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.REMN.com … (0 comments)
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interest rate history: Why are mortgage rates up?
- 08/17/12 12:55 AM
After reaching record lows near the end of July, mortgage rates have moved steadily higher this month. From their peak around July 24, Mortgage Backed Securities have dropped by more than two points, and mortgage rates have increased one quarter point or more.
Prior to July 26, two primary factors were responsible for the decline to record lows. First, the European debt troubles caused investors to shift to relatively safer assets, including US MBS. Second, slower economic growth reduced inflationary pressures and supported low mortgage rates. While the troubles in Europe and sluggish growth rates are likely to remain … (6 comments)
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interest rate history: Wordless Wednesday: How Low Can They Go?
- 08/08/12 04:39 AM
Have a great week!
Rob
Robert Rauf
Mortgage Loan Originator
NMLS ID# 248937
http://robertrauf.remn.com/Default.aspx or my blog: http://activerain.com/blogs/rrauf
(732)557-6920 x102
RRauf@REMN.com
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network Inc.
Real Estate Mortgage Network, Inc. is located at 16 Madison Avenue, Building 2 Suite 2D Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.REMN.com for more information.
NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ … (0 comments)
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interest rate history: Can you say: Global Economy? Credit Downgrade for Portugal = Lower rates for Mortgages
- 04/27/10 04:48 AM
I remember when I was a neophyte in the Mortgage biz back in the 80's and Japanese tax law changed and our rates went up... thinking "Wow, the economy really is global."
Well today is another piece of info to confirm just that. There was a surprise downgrade of Portuguese Debt today that has caused a big influx of cash into US Credit instruments in a flight to quality.
In English: Every one is running away from foreign investment and looking for a safe place to park their cash. So they see the good old USA as a safe haven, … (3 comments)
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interest rate history: Mid week Rate update: WOW, What a great 4 or 5 weeks for Mortgage Rates
- 09/10/09 08:20 AM
Mortgage Rates Are Back Near Historic Lows!
I have been tracking the ups and downs as Fannies are trading for quite some time now, and since the initial uptick this spring we have had a flat market. Don't get me wrong, there have been some crazy days with big swings and entire weeks that were nail biters.... BUT: if you tracked the ups and downs there were so many weeks that ended up unchanged by the closing of the market on Friday this summer that rates would look pretty flat if you were to graph them.
For almost 5 weeks we … (10 comments)
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interest rate history: Interest Rate History for 20 years and 200 years, pretty color charts and all.
- 08/18/09 02:59 AM
Below are 2 charts showing a LONG history of interest rates.
The most recent history shows the past 20 years with an average interest rate on a 30 year fixed of 7.47%. The average over the past 40 years is 9.47%. The second chart is the 200 year history of Long-Term US Government securities,(prior to 40 years ago there was no consistent means of tracking Mortgage rates since there was no trading of MBS. The only true interest rate data available is from Uncle Sam.) These charts pretty clearly show how good we have it right now and what a great … (10 comments)
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interest rate history: Economic forecast and this week's "biggies" that Move Mortgage rates
- 07/30/09 06:34 AM
Well, if you read any of my Monday economic calendar updates you will know that I typically point out the biggies of the week. Well this week the biggies are gone and buried.
The 5 year and 7 year auctions are over and the market is pretty happy about it.
I had a concern that the excess supply in the markets this week would put a strain on Mortgage Rates. Today's 7 year auction was my biggest fear. Well The auctions are done! While the 7 year auction saw a slight increase in the yield, there was strong bidding and … (5 comments)
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interest rate history: Mortgage Rates and the Global Economy: Other countries CAN move our interest rates
- 06/12/09 02:17 AM
Actions in other countries can move our rates? YOU BETCHA!
Back in 1987 I graduated with a degree in Economics and stumbled into this crazy career in the Mortgage Biz. I did not want to work in NY, so I figured I would go work for a bank and use my degree.. and my love affair with the Mortgage business began. Even with my degree I never fully understood the effects of a global economy... That is until I started paying attention to interest rates on a daily basis. Back in the 80's we had a big swing in … (2 comments)
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interest rate history: Mid Week Interest Rate Update. 30 year auction not going well
- 05/07/09 05:52 AM
The Treasury Auction of $14 Billion 30 year bonds started at 1pm and the yield was quickly pushed up to levels we have not seen since November. The Mortgage Backed Securities market has had a few quick knee jerk reactions back and forth on this news and we have seen some wild swings right now.
While off its lows of a few minutes ago we are still in negative territory and if the sell off comes back there is likely to be a noticeable move UP in Mortgage rates today.
Have a great week
Rob
Robert Rauf
Mortgage Banker
www.RobertRaufHomeLoans.com … (6 comments)
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interest rate history: 20 year Interest Rate history, How Low can they go? Pretty Color Graphics too!
- 04/28/09 12:51 AM
Below is a great chart of interest rates for the past 20 years. A few things to note:
If you went back a few more years than shown on this chart, rates were MUCH higher in 1989 I paid 11.25 on my first mortgage! Points were very much the norm years ago, so the averages are artificially low Updated for the first quarter of 2009 you can see we are a full percent lower than last year! Keep in mind that interest rates can fluctuate greatly from one buyer to the next based on credit score, LTV, Loan amount, property type, … (17 comments)
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interest rate history: What a Wonderful opportunity, Low prices and Record low rates.
- 01/07/09 06:34 AM
I keep looking at rates and thinking "WOW!"
I wasn't really sure if we would see rates this low, but I think it is officially the lowest I have ever seen in the past 20+ years. In 2003 we had rates at similar levels, about .25% or so higher, and we were calling them 40 year lows. So I think it is safe to say it is a 45 or 50 year low in rates. (Records don't go back much farther than that, but my own personal experience in the industry goes back to 1987)
Here are some interesting numbers:
The … (7 comments)
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interest rate history: Shopping for a home? Look how great interest rates are TODAY! Pretty color chart and all!
- 11/13/08 07:06 AM
If you have read my profile you know that I have been in the business for over 20 years, I have seen a lot of ups and downs since the late 1980s both in business and in interest rates. My first house I paid over 11% on my loan, and I am in the business!!! When you look at the chart below, you will see that RATES ARE GREAT!
I know that I look at rates today and think they should be lower based on economic conditions. But historically speaking we are still quite low. The average rate over the past 20 … (8 comments)
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interest rate history: Interest rate History over the past 20 years.... Pretty color chart and all!
- 11/13/08 06:58 AM
If you have read my profile you know that I have been in the business for over 20 years, I have seen a lot of ups and downs since the late 1980s both in business and in interest rates. One thing that has always caused me to bite my tongue is a conversation on rates. How often have you heard a client say : "Rates are high"? I just bite my lip and laugh to myself. My first house I paid over 11% on my loan, and I am in the business!!!
I know that I look at rates today and think they should … (16 comments)
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