ARM Indexes: National Mortgage Contract Rate, 2003-2005

Source: Federal Housing Finance Board

The National Mortgage Contract Rate is also known as the "National Average Contract Mortgage Rate For the Purchase of Previously Occupied Homes By Combined Lenders" or the "National Average Mortgage Contract Interest Rate For Major Lenders on the Purchase of Previously-Occupied Single Family Homes."

Index Month Release Date Index Value
January 2003 February 27, 2003 5.91
February 2003 March 27, 2003 5.88
March 2003 April 28, 2003 5.76
April 2003 May 28, 2003 5.68
May 2003 June 26, 2003 5.58
June 2003 July 25, 2003 5.36
July 2003 August 26, 2003 5.34
August 2003 September 25, 2003 5.61
September 2003 October 27, 2003 5.89
October 2003 November 25, 2003 5.78
November 2003 December 23, 2003 5.79
December 2003 January 28, 2004 5.74
January 2004 February 26, 2004 5.63
February 2004 March 26, 2004 5.69
March 2004 April 26, 2004 5.43
April 2004 May 28, 2004 5.37
May 2004 June 25, 2004 5.73
June 2004 July 28, 2004 5.96
July 2004 August 26, 2004 5.88
August 2004 September 28, 2004 5.77
September 2004 October 26, 2004 5.63
October 2004 November 30, 2004 5.64
November 2004 December 28, 2004 5.65
December 2004 January 26, 2005 5.71
January 2005 February 24, 2005 5.72
February 2005 March 25, 2005 5.68
March 2005 April 26, 2005 5.76
April 2005 May 25, 2005 5.86
May 2005 June 29, 2005 5.80
June 2005 July 26, 2005 5.65
July 2005 August 30, 2005 5.68
August 2005 September 27, 2005 5.83
September 2005 October 25, 2005 5.85
October 2005 November 29, 2005 5.98
November 2005 December 28, 2005 6.22
December 2005 January 25, 2006 6.29
 The National Average Contract Mortgage Rate is derived from the Federal Housing Finance Board's Monthly Interest Rate Survey (MIRS). Prior to October 1989, this survey was conducted for many years by the former Federal Home Loan Bank Board (FHLBB).



The series is the average contract rate reported by a sample of mortgage lenders (savings and loan associations, savings banks, commercial banks, and mortgage companies) for loans closed during the first 5 working days of the month up through October 1991, and for the last 5 working days of the month since November 1991.

The rate is based on conventional fixed- and adjustable-rate loans on previously occupied nonfarm single-family homes. The series trails interest-rate trends both because of the processing time and the fact that the rate on a loan closed often reflects a rate commitment made two or three months earlier.

For other decades, click here. You can also find the latest value of this index in our Current Indexes table.

HSH Associates makes every reasonable effort to supply complete, accurate information, but assumes no liability for errors.

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