A History Of Mortgage Rates

Mortgage rates in the United States are dominated by the 30-year fixed mortgage, the benchmark interest rate for mortgages. The 30-year mortgage rate changes in response to other interest rates, namely the Federal Funds Rate set by the Federal Reserve. Since the advent of securitization, the secondary mortgage market has played an even larger role in determining the 30-year rate. The history of this rate is closely intertwined with the history of interest rates in general, particularly in the 40 years since 1970.

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