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Here in this article we are presenting the National Average contract Mortgage Rates from the year 1963 up to the year 2009.
Following the above graph which starts from year 1963 as you can see that the National Average contract Mortgage Rate was 6% and after the year 1965 we can see a rise in the rates and the rates continues to rise up till 1970 when the rate was above 8% after that there was a fall in the rates till 1972 and after that the rates again rises and from the year 1974 to 1977 the rate was quite stable.
Soon after this year we can see a huge rise in the rate and the rate reach its peek in the year 1982 at that time the rates were in between 14% to 15% and soon after that the rates continues to fall and reach the lowest ever recorded rates in the year 2009. During this period of 1982-2009 we can see ups and downs in the rates but the decline in the rates was more than the rise in the rates.
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