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30-year fixed averaged 4.69% — falling rates
4.69%
Annual avg rate
30-yr fixed
-0.35pp
vs 2009
Year-over-year
0.18%
Fed funds rate
Annual avg
+1.64%
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 0.18% during 2010. The Fed held near-zero interest rates to support economic recovery.
Consumer price inflation was 1.64% in 2010. Inflation was within or near the Federal Reserve's long-run target range.
With historically low mortgage rates averaging 4.69%, housing affordability was near the best levels in decades. Declining rates spurred refinancing activity and supported home purchases.
$1,554/mo
At 2010 rate (4.69%)
Principal + interest only
$1,964/mo
At current rate (6.84%)
Principal + interest only
$410/mo
2010 was cheaper
vs today on same loan