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ARM Indexes: National Mortgage Contract Rate, 1990s (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
February 15, 1990 January 1990 9.68
March 15, 1990 February 1990 9.74
April 16, 1990 March 1990 9.74
May 16, 1990 April 1990 9.82
June 15, 1990 May 1990 9.83
July 18, 1990 June 1990 9.85
August 15, 1990 July 1990 9.85
September 14, 1990 August 1990 9.70
October 16, 1990 September 1990 9.70
November 15, 1990 October 1990 9.67
December 17, 1990 November 1990 9.69
January 18, 1991 December 1990 9.58

Announcement Date Index Month Index Value
February 21, 1991 January 1991 9.54
March 15, 1991 February 1991 9.49
April 17, 1991 March 1991 9.26
May 17, 1991 April 1991 9.24
June 21, 1991 May 1991 9.23
July 17, 1991 June 1991 9.12
August 21, 1991 July 1991 9.12
September 23, 1991 August 1991 9.10
October 18, 1991 September 1991 8.93
November 21, 1991 October 1991 8.78
December 24, 1991 November 1991 8.43
January 24, 1992 December 1991 8.25

Announcement Date Index Month Index Value
February 25, 1992 January 1992 8.02
March 26, 1992 February 1992 8.15
April 27, 1992 March 1992 8.14
May 26, 1992 April 1992 8.26
June 26, 1992 May 1992 8.20
July 27, 1992 June 1992 8.04
August 24, 1992 July 1992 7.78
September 25, 1992 August 1992 7.58
October 27, 1992 September 1992 7.44
November 30, 1992 October 1992 7.40
December 24, 1992 November 1992 7.49
January 27, 1993 December 1992 7.53

Announcement Date Index Month Index Value
February 26, 1993 January 1993 7.49
March 26, 1993 February 1993 7.28
April 27, 1993 March 1993 7.17
May 25, 1993 April 1993 7.06
June 25, 1993 May 1993 7.08
July 27, 1993 June 1993 7.02
August 27, 1993 July 1993 6.95
September 27, 1993 August 1993 6.87
October 28, 1993 September 1993 6.75
November 30, 1993 October 1993 6.59
December 28, 1993 November 1993 6.60
January 26, 1994 December 1993 6.65

Announcement Date Index Month Index Value
February 25, 1994 January 1994 6.73
March 25, 1994 February 1994 6.68
April 26, 1994 March 1994 6.84
May 25, 1994 April 1994 7.04
June 27, 1994 May 1994 7.33
July 26,1994 June 1994 7.36
August 25, 1994 July 1994 7.49
September 27, 1994 August 1994 7.59
October 25, 1994 September 1994 7.57
November 29, 1994 October 1994 7.60
December 27, 1994 November 1994 7.56
January 26, 1995 December 1994 7.75

Announcement Date Index Month Index Value
February 27, 1995 January 1995 7.77
March 27, 1995 February 1995 8.00
April 26, 1995 March 1995 8.09
May 26, 1995 April 1995 7.99
June 27, 1995 May 1995 7.87
July 26, 1995 June 1995 7.62
August 25, 1995 July 1995 7.56
September 27, 1995 August 1995 7.60
October 26, 1995 September 1995 7.61
November 29, 1995 October 1995 7.53
December 28, 1995 November 1995 7.48
January 26, 1996 December 1995 7.22

Announcement Date Index Month Index Value
February 27, 1996January 19967.18
March 26, 1996February 1996 7.13
April 26, 1996 March 1996 7.29
May 29, 1996 April 1996 7.55
June 27, 1996 May 1996 7.72
July 26, 1996 June 1996 7.77
August 28, 1996 July 1996 7.87
September 27, 1996 August 19967.76
October 25, 1996 September 1996 7.78
November 27, 1996 October 1996 7.68
December 27, 1996 November 1996 7.55
January 28, 1997 December 1996 7.45

Announcement Date Index Month Index Value
February 26, 1997January 19977.55
March 26, 1997February 1997 7.53
April 25, 1997 March 1997 7.61
May 28, 1997 April 1997 7.73
June 26, 1997 May 1997 7.75
July 28, 1997 June 1997 7.67
August 26, 1997July 19977.52
September 25, 1997August 19977.47
October 28, 1997September 19977.46
November 26, 1997October 19977.37
December 24, 1997November 19977.34
January 28, 1998December 19977.26
February 26, 1998January 19987.12
March 26, 1998February 19987.06
April 27, 1998March 19987.07
May 27, 1998April 19987.09
June 26, 1998May 19987.08
July 27, 1998June 19987.06
August 26, 1998July 19987.01
September 25, 1998August 19986.98
October 27, 1998September 19986.88
November 25, 1998October 19986.74
December 24, 1998November 19986.77
January 27, 1999December 19986.76
February 25, 1999January 19996.77
March 25, 1999February 19996.82
April 27, 1999March 19996.91
May 26, 1999April 19996.94
June 25, 1999May 19996.96
July 27, 1999June 19997.14
August 26, 1999July 19997.35
September 27, 1999August 19997.48
October 27, 1999September 19997.57
November 29, 1999October 19997.56
December 27, 1999November 19997.56
January 26, 2000December 19997.55

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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