7.74% is the long term average3
7.69% is the mortgage rate this morning on realtor.com.
sources:
1Mortgage Rate History: Check Out These Charts from the Early 1900s
2Here's how much home prices have risen since 1950
3Kiplinger: The Magic Mortgage Rate Number to Tip the Housing Market
One thing that accompanies this....in the high period...CD rates were in the 8 to 12 percent range.
My dad would discuss this at length, how he locked in $50k for five years...at 13-percent...around 1980.