What was mortgage interest rate in 2007

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Why it's time for investors to go on the defense. Mortgage rates hit month high year fixed-rate loan hits 6. Mortgage Rates 30 yr fixed. Should I get a fixed- or adjustable-rate mortgage? National average rates on conventional, conforming, and year fixed and 1-Year CMT-indexed adjustable rate mortgages. Each week Freddie Mac surveys lenders and the mix of lender types thrifts, commercial banks and mortgage lending companies is roughly proportional to the level of mortgage business that each type commands nationwide.

National monthly average rates are derived from HSH's database of 2, to 3, lenders. Fed: Risks to the economy lessen. Latest home prices Wow! I could've had a prime. More Real Estate Should I get a fixed- or adjustable-rate mortgage? Toll Brothers' record shows the housing boom has no end in sight. What will your monthly mortgage payment be? Top Stories 7 things to know before the bell. SoftBank and Toyota want driverless cars to change the world. We have plotted this data against historical Australian interest rates for the period.

Clearly, you will have been worse off if you selected a 3 year fixed rate loan at any time up until about November This is because if you fixed a rate until then, the trend was for rates to be reducing and so a fixed rate loan would have missed out on the trend downwards.

If you fixed rates up until 3 years before the peak you would have been fine the peak was August so the last date to fix would have been August If you fixed at any time between these dates you will have been locked into that interest rate and you would have been likely to miss the period of lower interest rates between about October and July If you fixed interest rates at about July 7.

It is also interesting to compare how often the fixed rate exceeds or is exceeded by the variable rate.