TOM & CYNDEE
BROWNER - CRS,
ABR, GRIQUAD CITIES REAL ESTATE WITH RE/MAX
SERVING THE ENTIRE IOWA AND ILLINOIS QUAD CITIES
DAVENPORT - BETTENDORF - ROCK ISLAND - MOLINE AND SURROUNDING COMMUNITIES
TOM & CYNDEE
BROWNER - CRS,
ABR, GRI
BROKER ASSOCIATES SERVING IOWA & ILLINOIS - 319-332-9900 EXT 225
Call us on our private line at 332-1130 at RE/MAX RIVER CITIES or just e-mail your questions to tom&cyndee@quadcitiesrealestate.com/
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TOM DOTY - 359-8803 -----------------------------------------------------
REALTOR 1978 - 1985 -
LENDER 1985 to Present
A HISTORY OF THE LAST 30 YEARS
FIXED MORTGAGE INTEREST RATES -----------------------------------COMPILED BY TOM DOTY - FEBRUARY 2000
There has been a lot written and said about interest rates over the last 20 years. The fact is, interest rates have gone up and down in every year. Interest rates may hit below 7% for a few days, only to go back up again. However if you balance it all out, the 25 year average has been about 10.093% according to information sent to me by Tom Doty. He had a nifty chart, but it did not scan very well, so I will reproduce the data he provided me here. He listed his sources as Fannie Mae, Freddie Mac, MBA in Washington D.C. and the Iowa Mortgage Bankers Association. If you take the rates at the beginning of each year, you can see a trend. The highs and lows in each of these years will be different than those given. However, the trend shows unusual consistency and the reality that even at today's higher interest rates, we are still a lot lower than the historic average.
July 71 --------------------- 7.80% ------------------------------------------------------------------------------------------------------------ Jan. 72 --------------------- 7.44%------------------------------------------------------------------------------------------------------------- Jan. 73 --------------------- 7.44%------------------------------------------------------------------------------------------------------------- Jan. 74 --------------------- 8.54%------------------------------------------------------------------------------------------------------------- Jan. 75 --------------------- 9.43% ------------------------------------------------------------------------------------------------------------ Jan. 76 --------------------- 9.02% ------------------------------------------------------------------------------------------------------------ Jan. 77 --------------------- 8.72% ------------------------------------------------------------------------------------------------------------ Jan. 78 --------------------- 9.02% ------------------------------------------------------------------------------------------------------------ Jan. 79 -------------------- 10.39% ----------------------------------------------------------------------------------------------------------- Jan. 80 -------------------- 12.88% ----------------------------------------------------------------------------------------------------------- Jan. 81 -------------------- 14.90% ----------------------------------------------------------------------------------------------------------- Jan. 82 -------------------- 17.49% ----------------------------------------------------------------------------------------------------------- Jan. 83 -------------------- 13.25% ----------------------------------------------------------------------------------------------------------- Jan. 84 -------------------- 13.37% ----------------------------------------------------------------------------------------------------------- Jan. 85 -------------------- 13.06% ----------------------------------------------------------------------------------------------------------- Jan. 86 -------------------- 10.86% ----------------------------------------------------------------------------------------------------------- Jan. 87 --------------------- 9.00% ----------------------------------------------------------------------------------------------------------- Jan. 88 ---------------------10.43% ----------------------------------------------------------------------------------------------------------- Jan. 89 -------------------- 10.73% ----------------------------------------------------------------------------------------------------------- Jan. 90 --------------------- 9.90% ----------------------------------------------------------------------------------------------------------- Jan. 91 --------------------- 9.64% ----------------------------------------------------------------------------------------------------------- Jan. 92 --------------------- 8.43% ----------------------------------------------------------------------------------------------------------- Jan. 93 --------------------- 8.02% ----------------------------------------------------------------------------------------------------------- Jan. 94 --------------------- 7.06% ----------------------------------------------------------------------------------------------------------- Jan. 95 --------------------- 9.15% ----------------------------------------------------------------------------------------------------------- Jan. 96 --------------------- 7.03% ----------------------------------------------------------------------------------------------------------- Jan. 97 --------------------- 7.82% ------------------------------------------------------------------------------------------------------------ Jan. 98 --------------------- 6.99% ------------------------------------------------------------------------------------------------------------ Jan. 99 --------------------- 6.79% ------------------------------------------------------------------------------------------------------------ Jan. 00 --------------------- 8.21% ------------------------------------------------------------------------------------------------------------
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