In the heat of the summer 2025 homebuying season, mortgage rates feel uncomfortably high. But when someone points out that mortgages are still painfully expensive right now, a well-seasoned homeowner ...

The average 30-year fixed-rate mortgage started the decade at about 7.5% in 1971 (the earliest year for which data is available), according to Freddie Mac. By 1979, the rate had risen to an average of ...