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ARM Indexes: National Mortgage Contract Rate, 1980s (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"

Announcement Date Index Month Index Value
April 3, 1980 January 1980 11.78
April 7, 1980 February 1980 12.30
May 7, 1980 March 1980 12.56
May 21, 1980 April 1980 13.21
June 11, 1980 May 1980 13.74
July 11, 1980 June 1980 12.88
August 11, 1980 July 1980 12.23
September 11, 1980 August 1980 11.89
October 10, 1980 September 1980 12.00
November 10, 1980 October 1980 12.31
December 11, 1980 November 1980 12.85
January 13, 1981 December 1980 13.15

Announcement Date Index Month Index Value
February 11, 1981 January 1981 13.24
March 12, 1981 February 1981 13.73
April 10, 1981 March 1981 13.91
May 12, 1981 April 1981 13.99
June 10, 1981 May 1981 14.19
July 13, 1981 June 1981 14.40
August 12, 1981 July 1981 14.77
September 14, 1981 August 1981 15.03
October 13, 1981 September 1981 15.38
November 12, 1981 October 1981 15.47
December 14, 1981 November 1981 15.80
January 12, 1982 December 1981 15.53

Announcement Date Index Month Index Value
February 12, 1982 January 1982 15.37
March 12, 1982 February 1982 15.22
April 12, 1982 March 1982 15.07
May 12, 1982 April 1982 15.39
June 11, 1982 May 1982 15.57
July 13, 1982 June 1982 15.01
August 12, 1982 July 1982 14.96
September 13, 1982 August 1982 15.03
October 13, 1982 September 1982 14.71
November 13, 1982 October 1982 14.37
December 14, 1982 November 1982 13.74
January 12, 1983 December 1982 13.44

Announcement Date Index Month Index Value
February 11, 1983 January 1983 13.04
March 14, 1983 February 1983 12.88
April 12, 1983 March 1983 12.61
May 13, 1983 April 1983 12.42
June 14, 1983 May 1983 12.36
July 13, 1983 June 1983 12.21
August 11, 1983 July 1983 12.18
September 13, 1983 August 1983 12.25
October 17, 1983 September 1983 12.38
November 15, 1983 October 1983 12.19
December 12, 1983 November 1983 12.11
January 13, 1984 December 1983 11.94

Announcement Date Index Month Index Value
February 10, 1984 January 1984 11.70
March 13, 1984 February 1984 11.73
April 11, 1984 March 1984 11.69
May 11, 1984 April 1984 11.61
June 11, 1984 May 1984 11.63
July 12, 1984 June 1984 11.79
August 10, 1984 July 1984 12.03
September 12, 1984 August 1984 12.24
October 11, 1984 September 1984 12.43
November 15, 1984 October 1984 12.52
December 11, 1984 November 1984 12.38
January 14, 1985 December 1984 12.26

Announcement Date Index Month Index Value
February 11, 1985 January 1985 12.09
March 13, 1985 February 1985 11.90
April 10, 1985 March 1985 11.72
May 10, 1985 April 1985 11.62
June 11, 1985 May 1985 11.62
July 12, 1985 June 1985 11.29
August 12, 1985 July 1985 11.02
September 13, 1985 August 1985 10.87
October 11, 1985 September 1985 10.76
November 13, 1985 October 1985 10.86
December 12, 1985 November 1985 10.80
January 13, 1986 December 1985 10.70

Announcement Date Index Month Index Value
February 10, 1986 January 1986 10.40
March 12, 1986 February 1986 10.46
April 10, 1986 March 1986 10.24
May 12, 1986 April 1986 10.00
June 11, 1986 May 1986 9.80
July 11, 1986 June 1986 9.83
August 11, 1986 July 1986 9.88
September 11, 1986 August 1986 9.88
October 14, 1986 September 1986 9.71
November 12, 1986 October 1986 9.59
December 12, 1986 November 1986 9.48
January 13, 1987 December 1986 9.29

Announcement Date Index Month Index Value
February 12, 1987 January 1987 9.19
March 13, 1987 February 1987 8.89
April 15, 1987 March 1987 8.80
May 15, 1987 April 1987 8.79
June 15, 1987 May 1987 8.93
July 15, 1987 June 1987 9.02
August 14, 1987 July 1987 9.05
September 11, 1987 August 1987 9.05
October 15, 1987 September 1987 8.91
November 13, 1987 October 1987 8.86
December 15, 1987 November 1987 8.89
January 15, 1988 December 1987 8.86

Announcement Date Index Month Index Value
February 16, 1988 January 1988 8.92
March 15, 1988 February 1988 8.84
April 15, 1988 March 1988 8.84
May 16, 1988 April 1988 8.93
June 15, 1988 May 1988 8.90
July 15, 1988 June 1988 8.98
August 15, 1988 July 1988 8.98
September 15, 1988 August 1988 9.00
October 14, 1988 September 1988 8.98
November 16, 1988 October 1988 9.11
December 13, 1988 November 1988 9.16
January 17, 1989 December 1988 9.31

Announcement Date Index Month Index Value
February 15, 1989 January 1989 9.31
March 15, 1989 February 1989 9.44
April 14, 1989 March 1989 9.62
May 15, 1989 April 1989 9.76
June 13, 1989 May 1989 10.13
July 14, 1989 June 1989 10.27
August 15, 1989 July 1989 10.10
September 15, 1989 August 1989 9.81
October 16, 1989 September 1989 9.82
November 16, 1989 October 1989 9.86
December 18, 1989 November 1989 9.80
January 16, 1990 December 1989 9.69

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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HSH Associates makes every reasonable effort to supply complete, accurate information, but assumes no liability for errors.

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