You really should consider refinancing your mortgage if you have a higher rate than today’s 30 yr fixed which is about 3.625%, depending on your source. Here are historical rates for the last 48 years. As you can see we are very close to the lowest rate which occurred in 2012 when it was 3.31% .
| Year | Lowest Rate | Highest Rate | Average Rate |
| 2018 | 3.95% | 4.94% | 4.54% |
| 2017 | 3.78% | 4.30% | 3.99% |
| 2016 | 3.41% | 4.32% | 3.65% |
| 2015 | 3.59% | 4.09% | 3.85% |
| 2014 | 3.80% | 4.53% | 4.17% |
| 2013 | 3.34% | 4.58% | 3.98% |
| 2012 | 3.31% | 4.08% | 3.66% |
| 2011 | 3.91% | 5.05% | 4.45% |
| 2010 | 4.17% | 5.21% | 4.69% |
| 2009 | 4.71% | 5.59% | 5.04% |
| 2008 | 5.10% | 6.63% | 6.03% |
| 2007 | 5.96% | 6.74% | 6.34% |
| 2006 | 6.10% | 6.80% | 6.41% |
| 2005 | 5.53% | 6.37% | 5.87% |
| 2004 | 5.38% | 6.34% | 5.84% |
| 2003 | 5.21% | 6.44% | 5.83% |
| 2002 | 5.93% | 7.18% | 6.54% |
| 2001 | 6.45% | 7.24% | 6.97% |
| 2000 | 7.13% | 8.64% | 8.05% |
| 1999 | 6.74% | 8.15% | 7.44% |
| 1998 | 6.49% | 7.22% | 6.94% |
| 1997 | 6.99% | 8.18% | 7.60% |
| 1996 | 6.94% | 8.42% | 7.81% |
| 1995 | 7.11% | 9.22% | 7.93% |
| 1994 | 6.97% | 9.25% | 8.38% |
| 1993 | 6.74% | 8.07% | 7.31% |
| 1992 | 7.84% | 9.03% | 8.39% |
| 1991 | 8.35% | 9.75% | 9.25% |
| 1990 | 9.56% | 10.67% | 10.13% |
| 1989 | 9.68% | 11.22% | 10.32% |
| 1988 | 9.84% | 10.77% | 10.34% |
| 1987 | 9.03% | 11.58% | 10.21% |
| 1986 | 9.29% | 10.99% | 10.19% |
| 1985 | 11.09% | 13.29% | 12.43% |
| 1984 | 13.14% | 14.68% | 13.88% |
| 1983 | 12.55% | 13.89% | 13.24% |
| 1982 | 13.57% | 17.66% | 16.04% |
| 1981 | 14.80% | 18.63% | 16.64% |
| 1980 | 12.18% | 16.35% | 13.74% |
| 1979 | 10.38% | 12.90% | 11.20% |
| 1978 | 8.98% | 10.38% | 9.64% |
| 1977 | 8.65% | 9.00% | 8.85% |
| 1976 | 8.70% | 9.10% | 8.87% |
| 1975 | 8.80% | 9.60% | 9.05% |
| 1974 | 8.40% | 10.03% | 9.19% |
| 1973 | 7.43% | 8.85% | 8.04% |
| 1972 | 7.23% | 7.46% | 7.38% |
| 1971 | 7.29% | 7.73% | 7.54% |
| lowest | highest | average | |
| Overall | 3.31% | 18.63% | 8.08% |