Posts from July 1st, 2026
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Mortgage Rates: A Historical Perspective
Mortgage Rates – A Historical Perspective
If you ask anyone involved in real estate how the market is, you are likely to hear something regarding mortgage rates and how they have recently risen, instead of falling. This is certainly part of the reason the 2026 real estate market has been sluggish. At the time that I am writing this article, mortgage rates are averaging around 6.5%. Compared to the time of covid (March 2020) and the time shortly after, this is a high rate. With a little perspective we can see that 6.5% is much closer to average, even a little lower, historically.
Mortgage rates peaked near 20% in the early 1980's. Several local Realtors have told me how difficult it was to both purchase and sell real estate during this era. Many agents sold land and timber just to get by. The r...