BANKRATEMortgage rate history: 1972 to 2026Published on July 14, 2026|5 min readAs of July 9, 2026, the average rate for a 30-year, fixed loan was 6.49%- up from thebeginning of the year, and only a
Increasing Interest Rates . . . Not All Bad
Dated: July 29 2026
Views: 72
BANKRATE
Mortgage rate history: 1972 to 2026
Published on July 14, 2026|5 min read
As of July 9, 2026, the average rate for a 30-year, fixed loan was 6.49%- up from the
beginning of the year, and only a touch lower than the 2025 average of 6.66%.
Over the past four decades, the 30-year fixed rate ranged from a 2021 low of 2.65%
to a 1981 high above 18%.
The average 30-year fixed rate bottomed in 2021 atjust under 3%.
87% of all borrowers in 2025 paid more than the most competitive rate available to
them, according to Bankrate's Hidden Homeownership Tax research - meaning
rate history matters less to your bill than whether you actually shopped your own
rate.
The residential mortgage as we know it today is less than a century old. In fact, until the
Federal Housing Administration (FHA) was established in 1934, only one in 10 Americans
even owned a home. That all changed with the introduction of the 30-year fixed-rate
mortgage during the Great Depression, which made homeownership possible for millions.
Recent changes in mortgage rates have put a strain on the housing market. Historically low
rates at the start of the 2020s led to a surge in home prices, and rates have stayed
consistently between 6% and 7% since the Federal Reserve raised rates in 2022. However,
home prices remain high. This combination of climbing prices with higher-than-recent
rates has made housing affordability a major problem.
Mortgage rates over time
30-year fixed mortgage rates: 1982 - 2026
Current mortgage rates
As of July 14, 2026, the average 30-year fixed mortgage rate is 6.64%, per Bankrate's lender
survey. Freddie Mac's Primary Mortgage Market Survey, a separate weekly benchmark
based on conforming purchase loans with 20% down and strong credit, put the 30-year
fixed average at 6.49% as of July 9, 2026- up from 6.43% the week before and down from
6.72% a year earlier.
Rates fell through most of the first two months of 2026, bottoming at a 2026 low of 6.01%
on Feb. 19-the lowest weekly average since September 2022. They've climbed back into
the mid-6% range since, as persistent inflation and Treasury yields have kept upward
pressure on mortgage pricing.
Impact on Homebuyers
The relationship between interest rates and homebuyers is straightforward: when interest
rates are low, homebuying becomes more affordable. Lower interest rates reduce monthly
mortgage payments, allowing buyers to qualify for larger loans and purchase more
expensive properties. This increased affordability can stimulate demand for homes,
leading to a more active real estate market.
However, when interest rates rise, the opposite effect occurs. Higher interest rates
increase monthly mortgage payments, making it more difficult for buyers to afford
homes. This can reduce the number of potential buyers in the market, slowing down
the pace of home sales and potentially leading to a decrease in home prices.
For first-time homebuyers, interest rate changes can be particularly impactful. Lower rates
can make entering the housing market more accessible, while higher rates can pose
significant barriers. This sensitivity to interest rates highlights the importance of timing
when it comes to purchasing a home.
Another Perspective... There are paths to homeownership, even in times of increasing
interest rates. If home prices lower due to rising interest rates, your purchasing power
increases AND you can always refinance to a lower rate if we start to see interest rates
drop. When rates are low, it tends to be a seller-dominated market, so if you are able to
structure a purchase with all your wants and needs, do not hesitate to consider it.
Kimberly Dimmett
Whether you're buying your first home, selling a property, expanding your investment portfolio, or searching for your next opportunity, I am committed to providing knowledgeable guidance and exception....
Latest Blog Posts
The 21st Century ROAD to Housing ActAnalysis and Projected OutcomesKimberly Dimmett, RealtorJPAR Real Estate, San AntonioJune 2026, the median price of an existing home in the United States was $440
Austin Board of REALTORS® Copyright ©2026 All rights reserved.
The Greater McAllen Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
Information provided courtesy of LERA MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed. Provided courtesy of LERA MLS. Copyright 2026 LERA MLS, All Rights Reserved. Data last updated September 13, 2026 10:35 AM UTC
Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties
South Texas MLS, LLC. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
