Freddie Mac 30-Year Fixed-Rate Mortgages Since 1971

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Trooper_IHB

Trooper_IHB

New member
This is an interesting compilation of Freddie Mac's historical rates / points for a 30 yr fixed rate mortgage. (conforming)

The lowest yearly average was 5.83 % in (surprise) 2003.

The highest yearly average was 1981 at a WHOPPING 16.63 (YES, that is the average for the year !!!) 1982 was in the 16% average range as well.

There are links at the bottom for the historical charts of the 15 yr. fixed rate, the 5 yr. adjustable and 1 yr. adjustable.

Freddie Mac: Weekly Mortgage Market Surveys
 
I personally, closed loans at an S & L at 17 1/2%. Fixed. 30 years. They didn't go into foreclosure as frequently as the neg am adjustibles. The borrowers would sit poised, pen in hand, pen TREMBLING in hand, and my S & L always told people to the penny how much the percentage was and how much the closing costs were. Nobody ever walked out.

There was one wealthy lady buying an expensive place, who was giving me a really hard time, so I said, ma'am, you are clearly a person of means, why don't you just pay cash, and not take out a loan for this high rate. Errr, well, her money was out at 21%. . . She shut up and signed.

There was an excellent segment on 60 minutes this evening about the foreclosure crisis; I was sorry when it was over. They had really done their homework. Amazing. Someone in the media did their homework.
 
Sixty Minutes got a show right?

I know two people who were featured on that show over the past 25 years. Both were portrayed as the antichrist, or at least you could reasonablly believe that to be the situation once watching the piece. Both without question were some of the most giving and honest people you'd ever want to see.

I'm going to watch tonight just because you said so.

This goes badly it's your fault, sister!
 
Let me know what you think. I am honored you respect my opinion!

(I know you will!!)

I wonder what awaits us stock mkt wise tomorrow.

I was puzzled you hadn't seen it. I keep foregetting about the time difference.

Over and out.
 
I don't get it for another 12 minutes. I'm watching the CBS 2 news, and the Lakers are currently in rain delay.

I know they play basketball indoors. It's the monsonal storm of the centrury in SoCal tonight. The roof is leaking.
 
Seriously? LOL.

Liz,

Yeah, that one got it dead square. Too bad they are being typically reactionary 60 Minutes. The horse has done bolted the barn......now they want to close the gate.

Thanks for the tip.
 
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