Here are the interest rates for the most popular 30-year fixed-rate and 15-year fixed-rate mortgages.The lowest 30-year mortgage rate was equal to 2.87% in August 2021, while the highest rate was equal to 7.79% in October 2023.For many Americans, purchasing a home is the largest financial decision they will make in their lifetime. The decision to buy a home is impacted by a variety of factors, one of the most significant being the cost of borrowing money through a mortgage loan. The interest rate on a mortgage can significantly affect the monthly payment and the overall cost of the home over time. In this article, we will explore the history of mortgage interest rates in the United States, from 1990 to present.In 1990, the average interest rate for a 30-year fixed rate mortgage in the United States was 10.13 percent. Throughout the early 1990s, interest rates remained high, reaching a peak of 12.5 percent in 1991. However, by the mid-1990s, rates began to decline, with the average interest rate for a 30-year fixed rate mortgage falling to 7.6 percent in 1998.The late 1990s and early 2000s saw relatively low interest rates, with the average rate for a 30-year fixed rate mortgage hovering between 6 and 8 percent. This period was characterized by a booming housing market, as low interest rates made homes more affordable for many Americans.In 2008, the housing market crashed, leading to the Great Recession. The Federal Reserve responded by lowering interest rates to historic lows in an effort to stimulate the economy. In 2012, the average interest rate for a 30-year fixed rate mortgage hit a record low of 3.66 percent.In the years following the recession, interest rates began to gradually rise. By 2018, the average interest rate for a 30-year fixed rate mortgage had risen to 4.54 percent. However, rates remained historically low compared to previous decades.In 2020, interest rates hit record lows once again due to the COVID-19 pandemic. The Federal Reserve lowered interest rates to near zero in an effort to stabilize the economy. As a result, the average interest rate for a 30-year fixed rate mortgage fell to 2.65 percent in January 2021, the lowest rate in history. In 2021 and especially in 2022, inflation began to rise aggressively and the Federal Reserve began to raise interest rates and therefore mortgage rates jumped rapidly as well. In March 2023, the rate for a 30-year mortgage exceeded 6.5 percent.In conclusion, the history of mortgage interest rates in the United States has been characterized by fluctuations and changes over the past 30 years. From historic highs in the early 1990s to record lows in 2020, interest rates have had a significant impact on the affordability of homes for millions of Americans. While experts predict rising interest rates in the near future, the overall trend remains towards lower rates compared to previous decades.The mortgage rates are updated weekly (Thursdays).Updated: 2025/08/29.Updated: 2025/08/30.Discover more MORTGAGE mortgage loan Mortgage loan Mortgage mortgage mortgages Financial prediction mobile app Economic outlook merchandise Financial outlook newslettersUpdated: 2025/08/31.Updated: 2025/09/02.Updated: 2025/09/03.The lowest 30-year mortgage rate was equal to 3.01% in September 2021, while the highest rate was equal to 7.79% in October 2023.Updated: 2025/09/08.Updated: 2025/09/14.Updated: 2025/09/19.Updated: 2025/09/29.The lowest 30-year mortgage rate was equal to 3.1% in November 2021, while the highest rate was equal to 7.79% in October 2023.Discover more MORTGAGE Mortgage loan mortgage loan mortgage mortgages Mortgage Crude oil price forecasts Investment strategy guides Commodity price forecasts Currency converter toolsDiscover more MORTGAGE mortgage loan Mortgage loan mortgage Mortgage mortgages Investment strategy guides Economic development reports Financial market analysisDiscover more mortgage loan mortgages MORTGAGE mortgage Mortgage loan Mortgage Interest rate tracking tools Economic indicators subscription Financial data API accessUpdated: 2025/10/16.

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