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Rainmaker
307,117
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

For me, it was 14 1/2 % in 1984.   

Sep 17, 2024 03:14 AM
Rainmaker
8,083,698
Roy Kelley
Retired - Gaithersburg, MD

6% in 1961

Sep 17, 2024 04:15 AM
Rainmaker
1,627,127
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker, Notary

1986.  it was 10%.

Sep 17, 2024 08:00 AM
Ambassador
4,918,111
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Hmm, I don't recall, but I got into the industry in 2010, I am thinking it was around 6%, but I truly don't recall, haha.

Sep 17, 2024 04:28 AM
Rainmaker
5,424,268
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

7% with 3 points, 29 year amortization in 1972

Sep 17, 2024 04:41 AM
Ambassador
2,545,361
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I was licensed in December 2010 and I just looked it up and it was 4.61%

Sep 17, 2024 04:38 AM
Rainmaker
5,251,174
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

I honestly don't remember. I was selling primarily coops in NY City and most of them required cash purchases. Interest rates were not much of a factor. Even those coops that allowed some financing, didn't allow much more than 25-30% of the purchase price... so people paid little attention to the rates.

Sep 17, 2024 04:38 AM
Rainmaker
655,055
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Mid 80's it was around 12% and steadily declined from there.

Sep 17, 2024 04:36 AM
Ambassador
2,110,335
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home again, home again...

I remember hearing horror stories from mature agents, as I entered the business, about selling properties by assuming existing mortgages because current rates had increased upward of 18% - 22%.. if you could manage to qualify at all.

Sep 17, 2024 04:09 AM
Rainmaker
1,243,835
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

I had to look it up. I got my license in 1976. The interest rate for that year started at 9.10% and ended the year at 8.78%

Sep 17, 2024 05:43 AM
Rainmaker
670,411
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

around 10% and climbing, to above 18% in 1981.

Sep 17, 2024 05:12 AM
Ambassador
2,699,707
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   13% to 14% 

 

Sep 17, 2024 05:04 AM
Rainmaker
655,055
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Mid 80's it was around 12% and steadily declined from there.

Sep 17, 2024 04:33 AM
Rainmaker
2,278,338
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

     16.5% adjustable for housing in 1981. I remember a commercial loan rate of 22% adjustable for my neighbor, a local grocery store owner ready to hand in the keys to the bank. 

     You take nothing for granted and sharpen your skills quickly when conditions around you are the most challenging Michael Elliott. It's called life survival.

     The slowest moving zombie real estate agent is the one who gets "eaten" first. Licensed in 1979.

real estate zombies

Sep 17, 2024 03:43 AM
Rainmaker
2,490,304
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I'm pretty sure it was 6% Michael Elliott and when I left it was around 2%.

 

UPDATE! I checked and it was 8.7% when I started out.

Sep 17, 2024 09:02 AM
Rainmaker
1,530,594
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I have no idea.  Probably around 3%-5%

Sep 17, 2024 07:39 AM
Rainmaker
1,866,168
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

14% then up to 16%

We still did deals just differently than now.

Sep 17, 2024 06:40 AM
Rainmaker
1,091,065
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

7.5% 

Sep 17, 2024 05:48 AM
Rainmaker
513,201
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

Michael Elliott 

I started in 2006 and the rate was not in my mind. My mind was on listing and figuring out what the heck I was doing, lol. 

Sep 17, 2024 05:45 AM
Rainmaker
1,414,640
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Average mortgage rate when I got my license was 7.50%.

When we bought our house in 1976, our mortgage was at 8% and we thought we were fortunate.

Sep 17, 2024 09:51 AM
Rainmaker
878,227
Eileen Burns 954.483.3912
Trans State Commercial Realty Inc. - Fort Lauderdale, FL
FLorida Real Estate Connector

10-12% and 29% interest was called usury😎

Sep 17, 2024 09:04 AM
Ambassador
3,408,180
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

Well now,  No clue.  I did however ask Mr. G. who reports it was 5.85%

Sep 17, 2024 08:05 AM
Rainmaker
1,602,856
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

No recollection. But I'm sure it's easily Googled - 1999

Sep 17, 2024 06:27 PM
Ambassador
3,644,149
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

I think it was the mid-teens.  I remember lookimg fir abbuying FHA assumables loan homes in the late 80's and when the interest rate was under 10% we thought that was a SUPER deal.  But it now!  And so it was....

Sep 17, 2024 11:29 AM
Ambassador
2,390,980
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

I was going to say 15% Michael Elliott, but you may be right as I was also licensed in 1984 -1985. It is funny that we think 7% is high now. When I purchased my first house, interest rates were 19%. I received 15%. I thought I got a deal 

Sep 17, 2024 10:31 AM
Rainer
406,029
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

4.5, when I entered with a license, but helped my wife for a decade before I got my license.

Sep 17, 2024 03:11 PM
Ambassador
3,208,320
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

8 ish quickly dropping into the 7s in the early 90s

Sep 17, 2024 03:01 PM
Rainmaker
926,921
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

1986 in Connecticut, 10% just dropped from 12% the year before.

Sep 18, 2024 05:02 AM
Ambassador
6,623,295
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

A few of my early properties were at 18 percent.

Sep 17, 2024 10:21 PM
Rainmaker
5,142,474
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

7% in 1996 if I remember right.

 

Sep 17, 2024 01:13 PM
Rainmaker
5,964,048
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

When I got into this business late 1996, it was 8%.

Sep 17, 2024 12:58 PM
Rainmaker
682,152
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
The Grit and Gratitude Agent

As a buyer back in the 1980's, it was 13.5% and when I became a licensed real estate professional is was 3%.

Sep 17, 2024 10:56 AM
Rainmaker
782,729
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

10 1/4%

Sep 17, 2024 10:36 AM
Rainer
449,058
J.R. Schloemer
Kentucky Select Properties - Louisville, KY

4.5-5.0%. I think it was the lowest in about 50-60 years. I recall that for two reasons, 1. I had a rates table on the back of my business card at the time & 2. There was a house my broker had for sale, and the seller had the original sales contract when he bought it, and I the seller had 4.5 or 5.0%.

Sep 18, 2024 08:41 AM
Rainmaker
937,328
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

When I got my NC license in 2007 I believe they were in the 6% range.

When I started working in mortgage banking in the mid 80s people were refinancing to get rates for 10-13%. 

Sep 23, 2024 07:05 AM
Ambassador
1,089,595
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

About where we are now, but it was substantially different because of sub prime loans.  Many sub prime loans were ~7-8% while conventional loans were high 6s.

I entered in 2006

Sep 19, 2024 09:26 AM
Rainer
423,723
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

13.95 my first house

Sep 19, 2024 05:13 AM
Rainmaker
5,216,994
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

In 1991 when I was licensed the 30 year mortgage rate was 9.25%

Sep 18, 2024 07:10 PM
Rainmaker
2,240,290
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

9%

Sep 18, 2024 04:34 PM
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