Many mistakenly thought recent low interest rates were the norm; they are not.
Historical Mortgage Rates: See Averages and Trends by Decade | Mortgages | U.S. News
But do you see the mistake they make in this paragraph?
Of course, you can’t talk about the history of mortgage rates without comparing other metrics like home prices and incomes. The median price for new single-family homes sold in the U.S. during 1981 – when mortgage rates reached record highs – was $68,900, according to Census Bureau data. That would be equivalent to around $238,000 in today’s dollars, using the consumer price index inflation calculator. Meanwhile, the actual median new home sales price is $401,800 as of June 2025.
Here is a clue to the mistake US News is making:
