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.

Up-to-date information on this series is available on a recorded message on (202) 408-2940.

Announcement Date	Index Month	Index Value
April 3, 1980	January 1980	11.78
April 7, 1980	February 1980	12.30
May 7, 1980	March 1980	12.56
May 21, 1980	April 1980	13.21
June 11, 1980	May 1980	13.74
July 11, 1980	June 1980	12.88
August 11, 1980	July 1980	12.23
September 11, 1980	August 1980	11.89
October 10, 1980	September 1980	12.00
November 10, 1980	October 1980	12.31
December 11, 1980	November 1980	12.85
January 13, 1981	December 1980	13.15

February 11, 1981	January 1981	13.24
March 12, 1981	February 1981	13.73
April 10, 1981	March 1981	13.91
May 12, 1981	April 1981	13.99
June 10, 1981	May 1981	14.19
July 13, 1981	June 1981	14.40
August 12, 1981	July 1981	14.77
September 14, 1981	August 1981	15.03
October 13, 1981	September 1981	15.38
November 12, 1981	October 1981	15.47
December 14, 1981	November 1981	15.80
January 12, 1982	December 1981	15.53

February 12, 1982	January 1982	15.37
March 12, 1982	February 1982	15.22
April 12, 1982	March 1982	15.07
May 12, 1982	April 1982	15.39
June 11, 1982	May 1982	15.57
July 13, 1982	June 1982	15.01
August 12, 1982	July 1982	14.96
September 13, 1982	August 1982	15.03
October 13, 1982	September 1982	14.71
November 13, 1982	October 1982	14.37
December 14, 1982	November 1982	13.74
January 12, 1983	December 1982	13.44

February 11, 1983	January 1983	13.04
March 14, 1983	February 1983	12.88
April 12, 1983	March 1983	12.61
May 13, 1983	April 1983	12.42
June 14, 1983	May 1983	12.36
July 13, 1983	June 1983	12.21
August 11, 1983	July 1983	12.18
September 13, 1983	August 1983	12.25
October 17, 1983	September 1983	12.38
November 15, 1983	October 1983	12.19
December 12, 1983	November 1983	12.11
January 13, 1984	December 1983	11.94

February 10, 1984	January 1984	11.70
March 13, 1984	February 1984	11.73
April 11, 1984	March 1984	11.69
May 11, 1984	April 1984	11.61
June 11, 1984	May 1984	11.63
July 12, 1984	June 1984	11.79
August 10, 1984	July 1984	12.03
September 12, 1984	August 1984	12.24
October 11, 1984	September 1984	12.43
November 15, 1984	October 1984	12.52
December 11, 1984	November 1984	12.38
January 14, 1985	December 1984	12.26

February 11, 1985	January 1985	12.09
March 13, 1985	February 1985	11.90
April 10, 1985	March 1985	11.72
May 10, 1985	April 1985	11.62
June 11, 1985	May 1985	11.62
July 12, 1985	June 1985	11.29
August 12, 1985	July 1985	11.02
September 13, 1985	August 1985	10.87
October 11, 1985	September 1985	10.76
November 13, 1985	October 1985	10.86
December 12, 1985	November 1985	10.80
January 13, 1986	December 1985	10.70

February 10, 1986	January 1986	10.40
March 12, 1986	February 1986	10.46
April 10, 1986	March 1986	10.24
May 12, 1986	April 1986	10.00
June 11, 1986	May 1986	9.80
July 11, 1986	June 1986	9.83
August 11, 1986	July 1986	9.88
September 11, 1986	August 1986	9.88
October 14, 1986	September 1986	9.71
November 12, 1986	October 1986	9.59
December 12, 1986	November 1986	9.48
January 13, 1987	December 1986	9.29

February 12, 1987	January 1987	9.19
March 13, 1987	February 1987	8.89
April 15, 1987	March 1987	8.80
May 15, 1987	April 1987	8.79
June 15, 1987	May 1987	8.93
July 15, 1987	June 1987	9.02
August 14, 1987	July 1987	9.05
September 11, 1987	August 1987	9.05
October 15, 1987	September 1987	8.91
November 13, 1987	October 1987	8.86
December 15, 1987	November 1987	8.89
January 15, 1988	December 1987	8.86

February 16, 1988	January 1988	8.92
March 15, 1988	February 1988	8.84
April 15, 1988	March 1988	8.84
May 16, 1988	April 1988	8.93
June 15, 1988	May 1988	8.90
July 15, 1988	June 1988	8.98
August 15, 1988	July 1988	8.98
September 15, 1988	August 1988	9.00
October 14, 1988	September 1988	8.98
November 16, 1988	October 1988	9.11
December 13, 1988	November 1988	9.16
January 17, 1989	December 1988	9.31

February 15, 1989	January 1989	9.31
March 15, 1989	February 1989	9.44
April 14, 1989	March 1989	9.62
May 15, 1989	April 1989	9.76
June 13, 1989	May 1989	10.13
July 14, 1989	June 1989	10.27
August 15, 1989	July 1989	10.10
September 15, 1989	August 1989	9.81
October 16, 1989	September 1989	9.82
November 16, 1989	October 1989	9.86
December 18, 1989	November 1989	9.80
January 16, 1990	December 1989	9.69

February 15, 1990	January 1990	9.68
March 15, 1990	February 1990	9.74
April 16, 1990	March 1990	9.74
May 16, 1990	April 1990	9.82
June 15, 1990	May 1990	9.83
July 18, 1990	June 1990	9.85
August 15, 1990	July 1990	9.85
September 14, 1990	August 1990	9.70
October 16, 1990	September 1990	9.70
November 15, 1990	October 1990	9.67
December 17, 1990	November 1990	9.69
January 18, 1991	December 1990	9.58

February 21, 1991	January 1991	9.54
March 15, 1991	February 1991	9.49
April 17, 1991	March 1991	9.26
May 17, 1991	April 1991	9.24
June 21, 1991	May 1991	9.23
July 17, 1991	June 1991	9.12
August 21, 1991	July 1991	9.12
September 23, 1991	August 1991	9.10
October 18, 1991	September 1991	8.93
November 21, 1991	October 1991	8.78
December 24, 1991	November 1991	8.43
January 24, 1992	December 1991	8.25

February 25, 1992	January 1992	8.02
March 26, 1992	February 1992	8.15
April 27, 1992	March 1992	8.14
May 26, 1992	April 1992	8.26
June 26, 1992	May 1992	8.20
July 27, 1992	June 1992	8.04
August 24, 1992	July 1992	7.78
September 25, 1992	August 1992	7.58
October 27, 1992	September 1992	7.44
November 30, 1992	October 1992	7.40
December 24, 1992	November 1992	7.49
January 27, 1993	December 1992	7.53

February 26, 1993	January 1993	7.49
March 26, 1993	February 1993	7.28
April 27, 1993	March 1993	7.17
May 25, 1993	April 1993	7.06
June 25, 1993	May 1993	7.08
July 27, 1993	June 1993	7.02
August 27, 1993	July 1993	6.95
September 27, 1993	August 1993	6.87
October 28, 1993	September 1993	6.75
November 30, 1993	October 1993	6.59
December 28, 1993	November 1993	6.60
January 26, 1994	December 1993	6.65

February 25, 1994	January 1994	6.73
March 25, 1994	February 1994	6.68
April 26, 1994	March 1994	6.84
May 25, 1994	April 1994	7.04
June 27, 1994	May 1994	7.33
July 26,1994	June 1994	7.36
August 25, 1994	July 1994	7.49
September 27, 1994	August 1994	7.59
October 25, 1994	September 1994	7.57
November 29, 1994	October 1994	7.60
December 27, 1994	November 1994	7.56
January 26, 1995	December 1994	7.75

February 27, 1995	January 1995	7.77
March 27, 1995	February 1995	8.00
April 26, 1995	March 1995	8.09
May 26, 1995	April 1995	7.99
June 27, 1995	May 1995	7.87
July 26, 1995	June 1995	7.62
August 25, 1995	July 1995	7.56
September 27, 1995	August 1995	7.60
October 26, 1995	September 1995	7.61
November 29, 1995	October 1995	7.53
December 28, 1995	November 1995	7.48
January 26, 1996	December 1995	7.22

February 27, 1996	January 1996	7.18
March 26, 1996	February 1996	7.13
April 26, 1996	March 1996	7.29
May 29, 1996	April 1996	7.55
June 27, 1996	May 1996	7.72
July 26, 1996	June 1996	7.77
August 28, 1996	July 1996	7.87
September 27, 1996	August 1996	7.76
October 25, 1996	September 1996	7.78
November 27, 1996	October 1996	7.68
December 27, 1996	November 1996	7.55
January 28, 1997	December 1996	7.45

February 26, 1997	January 1997	7.55
March 26, 1997	February 1997	7.53
April 25, 1997	March 1997	7.61
May 28, 1997	April 1997	7.73
June 26, 1997	May 1997	7.75
July 28, 1997	June 1997	7.67
August 26, 1997	July 1997	7.52
September 25, 1997	August 1997	7.47
October 28, 1997	September 1997	7.46
November 26, 1997	October 1997	7.37
December 24, 1997	November 1997	7.34
January 28, 1998	December 1997	7.26

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