Chart showing Mortgage, Inflation, & Federal Funds Rates (1980-2023)

The Fed Got Its Mojo Back

Mortgage interest rates have been more or less declining over the past four decades from a peak of 18.3% in October 1981 to a bottom of 2.7% in July 2021. This was mostly driven by a Federal Funds Effective Rate that dropped from 15.1% to 0.09% over the same timeframe.

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