Historical trend of 30 year fixed mortgage rate

Posted by Wei Min Tan on May 18, 2021

Manhattan, New York  property broker Weimin Tan provides a 3 minute overview on the historical trend of the 30 year fixed mortgage rate, with data from 1972 to 2021.

 

 

A fixed mortgage means that the mortgage has a fixed interest rate for the duration of the loan regardless of how the market is doing.  A 30-year fixed mortgage simply means that the borrower can lock in the interest rate for 30 long years.

 

Current data shows that we’re still experiencing record low mortgage rates.  Back in 1982, the 30 year fixed mortgage was 16%, in 2000 it was 8%, and in 2010 it was 4.7%.  The latest report from April of 2021 showed the 30 year fixed mortgage at 3.06% which is slightly higher compared to the lowest rate ever recorded at 2.7% from December 2020 to January 2021.

 

Low mortgage rates are a good focal point for global investors because the borrower can secure low cost of funds.  If one does a 30-year fixed mortgage, it means that the interest rate is locked for the next 30 years, while rents increase over time with inflation.

What We Do

We focus on global investors buying Manhattan condos for portfolio diversification and long term return-on-investment.
1) Identify the right buy based on objectives
2) Manage the buy process
3) Rent out the property
4) Manage tenants
5) Market the property at the eventual sale

 

Wei Min’s media interviews by CNBC, CNN, New York Times on the subject of investing in Manhattan property

 

 

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About Wei Min

  • Focuses on investors of Manhattan condominiums, interviewed by CNBC, CNN, Wall Street Journal, New York Times
  • Ex-Citibanker, managed $500 million portfolio
  • MBA, University of Illinois at Urbana-Champaign
  • Manhattan resident since 1999. Currently lives in Tribeca with wife and 2 kids
  • 352 burpees in 23 minutes, student of muay thai kickboxing

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About Wei Min


  • Focuses on investors of Manhattan condominiums, interviewed by CNBC, CNN, Wall Street Journal, New York Times
  • Ex-Citibanker, managed $500 million portfolio
  • MBA, University of Illinois at Urbana-Champaign
  • Manhattan resident since 1999. Currently lives in Tribeca with wife and 2 kids
  • 352 burpees in 23 minutes, student of muay thai kickboxing

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