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Monthly ARM Indexes: National Mortgage Contract Rate, 1980-present

Source: Federal Housing Finance Agency (FHFA)

Full name: "National Average Contract Mortgage Interest 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"

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 non-farm 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.

ARM Indexes: National Mortgage Contract Rate from Aug 2017 to Aug 2018

See Graph
Date
Release Date
National Mortgage Contract Rate
Aug-2017
2017-09-28
4.050
Sep-2017
2017-10-26
4.000
Oct-2017
2017-11-29
3.980
Nov-2017
2017-12-28
4.050
Dec-2017
2018-01-25
4.080
Jan-2018
2018-02-27
4.120
Feb-2018
2018-03-27
4.280
Mar-2018
2018-04-26
4.490
Apr-2018
2018-05-29
4.510
May-2018
2018-06-26
4.570
Jun-2018
2018-07-26
4.590
Jul-2018
2018-08-28
4.600
Aug-2018
2018-09-27
4.630

Mortgage Rates from 0.00%

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