Average Mortgage Rate Over the Last 30 Years?
If you're feeling overwhelmed by today’s mortgage rates, you're not alone. Many buyers wonder if rates are “too high” compared to past years. To give you some perspective, let’s take a quick look at how mortgage rates have trended over the last 30 years.
🏡 The 30-Year Average: ~5.9%
Over the past three decades, the average 30-year fixed mortgage rate in the U.S. has hovered around 5.9%. That number helps put today’s rates in context — while current rates are higher than they were during the ultra-low period of 2020–2021, they’re not unheard of historically.
📊 Rates by Decade
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1990s: ~8.1%
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2000s: ~6.3%
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2010s: ~4.1%
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2020–2021: ~3.0% (historic lows)
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2022–2025: ~6.5%–7.0% (post-pandemic reset)
What This Means for You
Yes, rates are higher than they were a few years ago — but they’re still in line with long-term historical trends. If you're waiting for 3% rates to return, it's worth knowing those levels were the exception, not the rule.
Instead of focusing solely on rate, consider:
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Affordability and monthly payment
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Your long-term housing goals
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Know that there is the potential to refinance later
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