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ARM Indexes: National Mortgage Contract Rate, 2000s (explanation)

Source: Federal Housing Finance Board

Alias "National Average Contract Mortgage Rate For the Purchase of Previously Occupied Homes By Combined Lenders"
or the "National Average Mortgage Contract Interest Rate For Major Lenders on the Purchase of Previously-Occupied Single Family Homes"

Index Month Release Date Index Value
January 2000 February 25, 2000 7.79
February 2000 March 27, 2000 7.95
March 2000 April 27, 2000 8.01
April 2000 May 26, 2000 8.00
May 2000 June 27, 2000 8.08
June 2000 July 27, 2000 8.17
July 2000 August 29, 2000 8.09
August 2000 September 27, 2000 8.00
September 2000 October 26, 2000 7.89
October 2000 November 28, 2000 7.81
November 2000 December 26, 2000 7.73
December 2000 January 26, 2001 7.59

Index Month Release Date Index Value
January 2001 February 27, 2001 7.25
February 2001 March 27, 2001 7.10
March 2001 April 26, 2001 7.02
April 2001 May 25, 2001 7.01
May 2001 June 26, 2001 7.08
June 2001 July 26, 2001 7.10
July 2001 August 28, 2001 7.10
August 2001 September 26, 2001 6.99
September 2001 October 26, 2001 6.86
October 2001 November 28, 2001 6.66
November 2001 December 27, 2001 6.56
December 2001 January 25, 2002 6.69

Index Month Release Date Index Value
January 2002 February 27, 2002 6.81
February 2002 March 27, 2002 6.77
March 2002 April 26, 2002 6.77
April 2002 May 28, 2002 6.88
May 2002 June 26, 2002 6.74
June 2002 July 25, 2002 6.62
July 2002 August 28, 2002 6.48
August 2002 September 27, 2002 6.32
September 2002 October 25, 2002 6.23
October 2002 November 26, 2002 6.09
November 2002 December 26, 2002 6.03
December 2002 January 28, 2003 6.04

Index Month Release Date Index Value
January 2003 February 27, 2003 5.91
February 2003 March 27, 2003 5.88
March 2003 April 28, 2003 5.76
April 2003 May 28, 2003 5.68
May 2003 June 26, 2003 5.58
June 2003 July 25, 2003 5.36
July 2003 August 26, 2003 5.34
August 2003 September 25, 2003 5.61
September 2003 October 27, 2003 5.89
October 2003 November 25, 2003 5.78
November 2003 December 23, 2003 5.79
December 2003 January 28, 2004 5.74

Index Month Release Date Index Value
January 2004 February 26, 2004 5.63
February 2004 March 26, 2004 5.69
March 2004 April 26, 2004 5.43
April 2004 May 28, 2004 5.37
May 2004 June 25, 2004 5.73
June 2004 July 28, 2004 5.96
July 2004 August 26, 2004 5.88
August 2004 September 28, 2004 5.77
September 2004 October 26, 2004 5.63
October 2004 November 30, 2004 5.64
November 2004 December 28, 2004 5.65
December 2004 January 26, 2005 5.71

Index Month Release Date Index Value
January 2005 February 24, 2005 5.72
February 2005 March 25, 2005 5.68
March 2005 April 26, 2005 5.76
April 2005 May 25, 2005 5.86
May 2005 June 29, 2005 5.80
June 2005 July 26, 2005 5.65
July 2005 August 30, 2005 5.68
August 2005 September 27, 2005 5.83
September 2005 October 25, 2005 5.85
October 2005 November 29, 2005 5.98
November 2005 December 28, 2005 6.22
December 2005 January 25, 2006 6.29

Index Month Release Date Index Value
January 2006 February 27, 2006 6.30
February 2006 March 27, 2006 6.31
March 2006 April 25, 2006 6.43
April 2006 May 30, 2006 6.50
May 2006 June 27, 2006 6.61
June 2006 July 25, 2006 6.65
July 2006 August 29, 2006 6.77
August 2006 September 27, 2006 6.75
September 2006 October 26, 2006 6.59
October 2006 November 28, 2006 6.54
November 2006 December 28, 2006 6.45
December 2006 January 25, 2007 6.40

Index Month Release Date Index Value
January 2007 February 28, 2007 6.37
February 2007 March 27, 2006 6.40
March 2007 April 26, 2007 6.33
April 2007 May 24, 2007 6.28
May 2007 June 26, 2007 6.37
June 2007 July 25, 2007 6.58
July 2007 August 28, 2007 6.74
August 2007 September 25, 2007 6.73
September 2007 October 25, 2007 6.59
October 2007 November 27, 2007 6.50
November 2007 December 27, 2007 6.35
December 2007 January 24, 2008 6.23

Index Month Release Date Index Value
January 2008 February 26, 2008 5.97
February 2008 March 25, 2006 5.87
March 2008 April 24, 2008 6.03
April 2008 May 27, 2008 5.97
May 2008 June 26, 2008 6.04
June 2008 July 24, 2008 6.23
July 2008 August 28, 2008 6.41
August 2008 September 25, 2008 6.46
September 2008 October 28, 2008 6.17
October 2008 November 25, 2008 6.16
November 2008 December 30, 2008 6.18
December 2008 January 22, 2009 5.51

Index Month Release Date Index Value
January 2009 February 26, 2009 5.12
February 2009 March 26, 2009 5.04
March 2009 April 28, 2009 5.06
April 2009 May 28, 2009 4.88
May 2009 June 25, 2009 4.88
June 2009 July 28, 2009 5.09
July 2009 August 27, 2009 5.26
August 2009 September 29, 2009 5.25
September 2009 October 27, 2009 5.16
October 2009 November 24, 2009 5.02
November 2009 December 24, 2009 5.01
December 2009 January 26, 2010 4.92

For other decades, click here.

The National Average Contract Mortgage Rate is derived from the Federal Housing Finance Board's Monthly Interest Rate Survey (MIRS). Prior to October 1989, this survey was conducted for many years by the former Federal Home Loan Bank Board (FHLBB).

The series is the average contract rate reported by a sample of mortgage lenders (savings and loan associations, savings banks, commercial banks, and mortgage companies) for loans closed during the first 5 working days of the month up through October 1991, and for the last 5 working days of the month since November 1991.

The rate is based on conventional fixed- and adjustable-rate loans on previously occupied nonfarm single-family homes. The series trails interest-rate trends both because of the processing time and the fact that the rate on a loan closed often reflects a rate commitment made two or three months earlier.

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