The average contract interest rate on conventional mortgage loans dipped to about 6 percent as the twentieth century drew to a close. By late in the year 2001 home mortgage interest rates had dropped further to the lowest levels experienced since the 1960s.

Question

Quizplus · Accepted Answer

As the twentieth century ended and moving into the early 2000s, there was indeed a significant drop in mortgage interest rates, reaching levels not seen since the 1960s. This was due to various economic factors and policies aimed at stimulating the housing market and broader economy.

The Average Contract Interest Rate on Conventional Mortgage Loans Dipped