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

Source: Federal Housing Finance Agency (FHFA)

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 2010 02/25/2010 5.01000
February 2010 03/30/2010 5.05000
March 2010 04/27/2010 4.99000
April 2010 05/27/2010 5.02000
May 2010 06/24/2010 4.99000
June 2010 07/27/2010 4.91000
July 2010 08/26/2010 4.78000
August 2010 09/28/2010 4.65000
September 2010 10/28/2010 4.55000
October 2010 11/23/2010 4.49000
November 2010 12/28/2010 4.42000

Index Month Release Date Index Value
January 2011 02/24/2011 4.71000
February 2011 03/29/2011 4.79000
March 2011 04/26/2011 4.84000
April 2011 05/25/2011 4.80000
May 2011 06/28/2011 4.74000
June 2011 07/27/2011 4.62000
July 2011 08/30/2011 4.57000
August 2011 09/27/2011 4.56000
September 2011 10/27/2011 4.38000
October 2011 11/22/2011 4.19000
November 2011 12/22/2011 4.22000
December 2011 01/26/2012 4.15000

Index Month Release Date Index Value
January 2012 02/28/2012 4.25000
February 2012 03/27/2012 4.08000
March 2012 04/26/2012 3.90000
April 2012 05/29/2012 3.93000
May 2012 06/26/2012 3.78000
June 2012 07/26/2012 3.67000
July 2012 08/28/2012 3.66000
August 2012 09/27/2012 3.56000
September 2012 10/30/2012 3.56000
October 2012 11/29/2012 3.44000
November 2012 12/27/2012 3.36000
December 2012 01/29/2013 3.29000

Index Month Release Date Index Value
January 2013 02/26/2013 3.35000
February 2013 03/28/2013 3.43000
March 2013 04/25/2013 3.54000
April 2013 05/30/2013 3.56000
May 2013 06/27/2013 3.40000
June 2013 07/30/2013 3.55000
July 2013 08/29/2013 4.01000
August 2013 09/26/2013 4.26000
September 2013 10/29/2013 4.38000
October 2013 11/26/2013 4.32000
November 2013 12/24/2013 4.21000
December 2013 01/30/2014 4.25000

Index Month Release Date Index Value
January 2014 02/27/2014 4.37000
February 2014 03/27/2014 4.30000
March 2014 04/29/2014 4.22000
April 2014 05/29/2014 4.24000
May 2014 06/26/2014 4.18000
June 2014 07/31/2014 4.08000

For other decades, click here.

The National Average Contract Mortgage Rate is derived from the Federal Housing Finance Agency (FHFA) Monthly Interest Rate Survey (MIRS). From October 1989 through July 2008, the survey was conducted each month by the Federal Housing Finance Board, which was the latest incarnation of the former Federal Home Loan Bank Board (FHLBB), which was formed in 1932.

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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