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30-year fixed averaged 7.38% — falling rates
7.38%
Annual avg rate
30-yr fixed
-0.16pp
vs 1971
Year-over-year
4.44%
Fed funds rate
Annual avg
+3.27%
CPI inflation
Year-over-year
Estimated monthly rates based on annual averages and adjacent-year interpolation. Seasonal pattern reflects typical mortgage market spring/summer premium.
The Federal Reserve maintained a federal funds rate averaging 4.44% during 1972. Monetary policy was calibrated to balance growth and inflation objectives.
Consumer price inflation was 3.27% in 1972. Inflation was within or near the Federal Reserve's long-run target range.
With moderate mortgage rates averaging 7.38%, housing affordability was moderate compared to long-run averages. Declining rates spurred refinancing activity and supported home purchases.
$2,073/mo
At 1972 rate (7.38%)
Principal + interest only
$1,964/mo
At current rate (6.84%)
Principal + interest only
$109/mo
1972 was more expensive
vs today on same loan