mortgage financing and programs

Archive for October, 2009

Join our mailing list

No Comments

Historical Perspective of Mortgage Rates

No Comments

Mortgage Rates have been falling the past few weeks and are near the all time lows we experienced back in April. For most of this year we have been in a period of historically low rates. Just how low are these rates? Compared to a few decades ago they are microscopic. I researched the history of 30-year fixed-rate mortgage over the past 35 years to provide you a historical perspective of mortgage rates. The following is data I gleaned from the Freddie Mac Primary Mortgage Market Survey Archives:

October 1, 2009   4.94%
August 27, 2009   5.14%
June 25, 2009 5.42%
October 2008 6.20%
October 2007 6.38%
October 2004 5.72%
October 1999 7.85%
October 1989 9.95%
October 1984 14.13%
October 1981 18.46%
October 1979 11.64%
October 1974 9.98%

As you can see we are in a period of historically low rates. To take advantage of these extremely low rates fill out an Chosad loan request form, or give us a call at 604-916-2321.

Switch to our mobile site