The National Mortgage Contract Rate is also known as the "National Average Contract Mortgage 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."
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The National Average Contract Mortgage Rate is derived from the
Federal Housing Finance Board's Monthly Interest Rate Survey (MIRS).
Prior to October 1989, this survey was conducted for many years by the
former Federal Home Loan Bank Board (FHLBB).
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 nonfarm 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. For other decades, click here. You can also find the latest value of this index in our Current Indexes table. HSH Associates makes every reasonable effort to supply complete, accurate information, but assumes no liability for errors.
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Go to the full list of ARM Index Histories. |
