Presidents › George H. W. Bush
Mortgage rates under George H. W. Bush
30-year mortgage rate · Republican · Jan 20, 1989 – Jan 20, 1993
Under George H. W. Bush, the average 30-year mortgage rate went from 10.61% in Dec 1988 to 8.21% in Dec 1992, down 2.40 pts. That is −0.60 pts/yr, against −0.64 pts/yr in the four years before. Ranked by yearly change, it is the fastest fall of the 8 completed terms since 1977.
Average rate on a 30-year fixed-rate mortgage (Freddie Mac Primary Mortgage Market Survey), weekly survey averaged by month. Follows long-term Treasury yields and the Federal Reserve's policy more than anything a president does directly. Source: Freddie Mac, via FRED MORTGAGE30US. Monthly data, fetched Oct 19, 2026. The chart runs from four years before the term to two years after it.
Mortgage rates under Bush, year by year
Highest reading during the term: 11.05% in Apr 1989. Lowest: 7.92% in Sep 1992.
| Period | Value | Change |
|---|---|---|
| Dec 1988, before inauguration | 10.61% | |
| Dec 1989 | 9.74% | −0.87 pts |
| Dec 1990 | 9.67% | −0.07 pts |
| Dec 1991 | 8.50% | −1.17 pts |
| Dec 1992 | 8.21% | −0.29 pts |
Mortgage rates under every president
Terms sorted by yearly change, fastest rise first, each next to the trend over the four years before it. A term's first year mostly reflects the previous administration's policies, and Congress, the Fed and the world economy move this number too. Why nothing here is a score.
| President | During term | 4 years before |
|---|---|---|
| Jimmy Carter 1977–1981 | 8.79% → 14.79% +1.50 pts/yr | +0.34 pts/yr |
| Joe Biden 2021–2025 | 2.68% → 6.72% +1.01 pts/yr | −0.38 pts/yr |
| Donald Trump (2nd term) 2025–present | 6.72% → 6.86% +0.08 pts/yr · through Sep 2026 | +1.01 pts/yr |
| Bill Clinton 1993–2001 | 8.21% → 7.38% −0.10 pts/yr | −0.60 pts/yr |
| Barack Obama 2009–2017 | 5.29% → 4.20% −0.14 pts/yr | −0.11 pts/yr |
| George W. Bush 2001–2009 | 7.38% → 5.29% −0.26 pts/yr | −0.05 pts/yr |
| Donald Trump (1st term) 2017–2021 | 4.20% → 2.68% −0.38 pts/yr | +0.21 pts/yr |
| Ronald Reagan 1981–1989 | 14.79% → 10.61% −0.52 pts/yr | +1.50 pts/yr |
| George H. W. Bush 1989–1993 | 10.61% → 8.21% −0.60 pts/yr | −0.64 pts/yr |
Every term lined up from inauguration day on one chart · 30-year mortgage rate by president since 1980