Mortgage rates under Ronald Reagan
30-year mortgage rate · Republican · Jan 20, 1981 – Jan 20, 1989
Under Ronald Reagan, the average 30-year mortgage rate went from 14.79% in Dec 1980 to 10.61% in Dec 1988, down 4.18 pts. That is −0.52 pts/yr, against +1.50 pts/yr in the four years before. Ranked by yearly change, it is the 2nd-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 Reagan, year by year
Highest reading during the term: 18.45% in Oct 1981. Lowest: 9.04% in Mar 1987.
| Period | Value | Change |
|---|---|---|
| Dec 1980, before inauguration | 14.79% | |
| Dec 1981 | 16.95% | +2.16 pts |
| Dec 1982 | 13.62% | −3.33 pts |
| Dec 1983 | 13.42% | −0.20 pts |
| Dec 1984 | 13.18% | −0.24 pts |
| Dec 1985 | 11.26% | −1.92 pts |
| Dec 1986 | 9.31% | −1.95 pts |
| Dec 1987 | 10.64% | +1.33 pts |
| Dec 1988 | 10.61% | −0.03 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