However, the average interest rate over the last 50 years, the average 30-year fixed-rate mortgage rate in the United States between April 1971 and April 2024, was 7.74%. The all-time high was 18.63% in October 1981, and the record low was 2.25% in January 2021. According to Bankrate, mortgage rates have reached peaks and valleys over the last 50 years, from a high of 18 percent in the 1980s to today’s relatively moderate but somewhat volatile figures. Many people overlook the shopping aspect and tend to approach a single lender. As a result, these people will probably get their "Dream Home," but it may come with a substantially higher monthly mortgage payment than if appropriate and adequate research had been done.
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