In this article we have given the 30 Year mortgage rate trends from the year 1971 up till 2009. The graph below shows the rates of 30 Year FRM and the prime rates.
Following the above graph which starts from June 1971 the rates of 30 Year FRM was in between 7% and 8% where as the prime rates were in between 5% to 6% after that the 30 Year FRM rates were quite stable up till June 1973 but soon after that it rises up to 9% then there we can see a little drop in June 1974 and then after that it again rises up to 10%.
After that there were ups ad downs in the rates but to a very small extent this continues up till June 1978 after which there was a huge rise in the rates and the rates reach up to a level of more than 16% before June 1980 after which the rates decline to a greater extent the same year and then it again rises crossing the limit of the previous high rates and the rates that we have seen during the year 1981 and 1982 are the highest rates that have ever been recorded from 1971 up till now and that rates reaches up to 18%.
After this year the rates continues to fall up to June 1983 and then it again rises in the years 1984 and after that the rates decline up to 9% before June 1987 and after this year we can see so many ups and down in the rates from June 1987 up till now but during the whole period mostly we see a fall in rates, we have seen rise in rates also but they just rises up to a considerable limit and in June 2009 the rates came to the lowest ever recorded level and that is up to 5%.
Now if we talk about prime rates in June 1971 the rates were in between 5% to 6% then in 1972 the rates fall below than 5% then we saw that the rates rises up to 12% in the year 1974 and after that the rates declines and were located in between 6% to 7% in 1977 and after that we can see a huge rise in the rates and it reaches up to 20% in the year 1980 and then in the same year the rates greatly falls and then again rises and in June 1981 the rates were at their peek crossing all the highest ever recorded rates from 1971 to 2009. After that year we can see big ups and downs in the rates sometimes the rates increases too much and sometimes there is a great decrease in rates. In June 2009 the rates were at their lowest ever recorded level and that is 3%.
