What Is a Mortgage Rate Chart?

A mortgage rate chart provides a historical look at the rise and fall of interest rates available for different types of mortgages, notes AmeriSave. As of 2015, mortgage rates are near historical lows.

Different charts provide different types of information, depending on the source. The Freddie Mac chart provides a historical look at the progression of the 30-year fixed-rate mortgage between 1971 and the present.

However, there are many different types of loans available in the 2015 market. In addition to fixed-rate loans, there are fixed-rate interest-only loans (in which the borrower pays nothing on the principal), adjustable-rate mortgages and ARMs with terms ranging from one to 40 years. Adjustable-rate mortgages are generally available in terms lasting up to 10 years, according to AmeriSave.

The historical range of some charts varies as well. Looking at trends as long as five years back is available on the AmeriSave website. Interest rates have remained well below 6 percent since the adjustments to the housing collapse of 2007 and 2008, notes Freddie Mac. However, paying attention to smaller fluctuations is helpful for getting the best deal today. Even a quarter or half of a percent on an interest rate leads to significant savings over a 30-year mortgage, explains AmeriSave.