Page 7 - Home Buyer Guide
P. 7
Why Mortgage Rates Are Driving Affordability
Freddie Mac has recently reported the average 30-year fixed mortgage rate dropping to record lows, reaching the lowest point in the history of the survey, which dates back to 1971
(See graph below):
18.00 16.00 14.00 12.00 10.00
8.00 6.00 4.00 2.00
2.91%
Freddie Mac
18.63%
30-Year fixed mortgage rate reaches lowest level in survey history
4/2/1971 4/2/1972 4/2/1973 4/2/1974 4/2/1975 4/2/1976 4/2/1977 4/2/1978 4/2/1979 4/2/1980 4/2/1981 4/2/1982 4/2/1983 4/2/1984 4/2/1985 4/2/1986 4/2/1987 4/2/1988 4/2/1989 4/2/1990 4/2/1991 4/2/1992 4/2/1993 4/2/1994 4/2/1995 4/2/1996 4/2/1997 4/2/1998 4/2/1999 4/2/2000 4/2/2001 4/2/2002 4/2/2003 4/2/2004 4/2/2005 4/2/2006 4/2/2007 4/2/2008 4/2/2009 4/2/2010 4/2/2011 4/2/2012 4/2/2013 4/2/2014 4/2/2015 4/2/2016 4/2/2017 4/2/2018 4/2/2019 4/2/2020
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