Inflation-Adjusted Mortgage Rates

Mortgage rates determine the amount of interest you pay on your home loan. These rates are not indexed to inflation, which means that the "real" or inflation-adjusted interest rate on your home loan is likely less than your mortgage rate. Banks make money off your home loan by charging a rate higher than inflation.

This page combines Consumer Price Index (CPI) data from the Bureau of Labor Statistics with average 30-year fixed mortgage rates as reported by the Federal Reserve. By taking the difference between the mortgage rates and the inflation rate, we calculate the inflation-adjusted average mortgage rate for each month.

The calculation is simple:

mortgage rate - current inflation rate

According to recent CPI and Federal Reserve data, the current inflation-adjusted 30-year fixed mortgage rate is -2.09%. Note that the Federal Reserve reports this data monthly, so you should use another site for real-time rates.


Real Mortgage Rates (30 yr fixed) Chart, 1971-2022

Values went from 2.93% in 1971 to -2.09% in 2022.

This graph displays inflation-adjusted 30-year fixed mortgage rates for the first of each month since 1971.

Inflation-Adjusted Mortgage Rates (%)

Real Mortgage Rates (30 yr fixed) Table, 1971-2022 (Yearly)

This table displays Inflation-Adjusted Mortgage Rates on January 1st of each year.

YearReal Mortgage Rates (30 yr fixed) (%)Change (%)Year-over-year (%)
2022-4.37-5.68-433.52
20211.310.129.79
20201.19-2.01-62.69
20193.201.3371.10
20181.870.2918.33
20171.58-0.98-38.21
20162.56-1.42-35.75
20153.981.1038.12
20142.881.1465.09
20131.750.6762.37
20121.07-1.75-62
20112.830.7435.69
20102.08-3.42-62.10
20095.503.82227.45
20081.68-2.35-58.36
20074.031.7677.36
20062.27-0.57-19.91
20052.84-1.25-30.62
20044.090.5013.95
20033.59-2.11-36.95
20025.701.7845.43
20013.92-1.18-23.20
20005.100.061.23
19995.04-0.54-9.67
19985.581.1826.90
19974.40-0.21-4.48
19964.60-1.82-28.38
19956.431.7035.98
19944.73-0.36-7.01
19935.08-0.94-15.59
19926.021.8644.76
19914.16-0.38-8.36
19904.54-1.24-21.39
19895.77-0.78-11.91
19886.55-1.29-16.41
19877.840.232.97
19867.61-2.05-21.24
19859.670.454.87
19849.22-0.73-7.34
19839.951.4416.91
19828.515.90226.67
19812.603.61-358.10
1980-1.01-2.03-198.94
19791.02-1.09-51.71
19782.11-1.47-41.06
19773.581.1949.83
19762.394.50-213.23
1975-2.11-1.25145.74
1974-0.86-4.66-122.62
19733.80-0.42-10.02
19724.221.3044.36
19712.9300

Real Mortgage Rates (30 yr fixed) Table, 1971-2022 (Monthly)

This table shows 12-month trailing Inflation-Adjusted Mortgage Rates for the first of each month.

YearMonthReal Mortgage Rates (30 yr fixed) (%)Change (%)Month-over-month (%)
202211Data unavailable
202210Data unavailable
20229-2.091.13-35.07
20228-3.21-0.258.40
20227-2.960.47-13.75
20226-3.430.35-9.37
20225-3.790.07-1.86
20224-3.860.64-14.16
20223-4.500.49-9.89
20222-4.99-0.347.34
20221-4.65-0.286.43
20220-4.37-0.4210.73
202111-3.95-0.133.34
202110-3.82-0.4713.94
20219-3.35-0.7327.92
20218-2.62-0.3515.37
20217-2.270.10-4.39
20216-2.380.06-2.30
20215-2.43-0.6234.13
20214-1.81-0.6759.05
20213-1.14-1.25-1,133.85
202120.11-0.86-88.68
202110.97-0.34-25.68
202101.31-0.11-7.60
2020111.42-0.29-16.86
2020101.71-0.04-2.43
202091.750.2415.86
202081.51-0.25-14.30
202071.76-0.43-19.76
202062.19-0.42-16.08
202052.61-0.60-18.61
202043.210.258.48
202032.961.0554.97
202021.910.5337.94
202011.390.1916.06
202001.19-0.21-15.05
2019111.40-0.19-12.13
2019101.60-0.13-7.37
201991.73-0.31-15.34
201982.040.041.92
201972-0.01-0.41
201962.01-0.48-19.38
201952.490.208.81
201942.29-0.12-5.13
201932.41-0.13-5.26
201922.55-0.44-14.80
201912.99-0.21-6.53
201903.200.289.55
2018112.920.3915.25
2018102.530.5225.57
201892.02-0.31-13.15
201882.320.5027.58
201871.820.2314.48
201861.59-0.09-5.24
201851.680.084.97
201841.60-0.37-18.72
201831.970.115.75
201821.860.127.02
201811.74-0.13-7.02
201801.870.042.11
2017111.830.1811.14
2017101.65-0.09-5.26
201791.740.042.47
201781.70-0.32-16.03
201772.02-0.19-8.63
201762.21-0.17-7.31
201752.390.167.25
201742.230.3217.09
201731.900.095.03
201721.810.3523.76
201711.46-0.12-7.46
201701.580.117.82
2016111.47-0.26-15.17
2016101.73-0.10-5.29
201691.82-0.14-7.23
201681.97-0.38-16.23
201672.35-0.49-17.15
201662.830.228.43
201652.610.041.63
201642.570.062.22
201632.51-0.35-12.30
201622.87-0.08-2.87
201612.950.4015.46
201602.56-0.58-18.58
2015113.14-0.21-6.20
2015103.35-0.37-9.98
201593.72-0.23-5.74
201583.950.061.58
201573.880.184.99
201563.700.020.66
201553.68-0.06-1.70
201543.74-0.21-5.31
201533.950.297.80
201523.66-0.09-2.44
201513.76-0.22-5.63
201503.980.7221.93
2014113.260.4013.80
2014102.870.4317.74
201492.44-0.05-1.87
201482.480.062.55
201472.420.2712.70
201462.15-0.07-3.16
201452.22-0.07-2.86
201442.28-0.04-1.90
201432.33-0.39-14.37
201422.72-0.69-20.15
201413.400.5218.14
201402.880.228.38
2013112.66-0.32-10.88
2013102.98-0.62-17.29
201393.610.4012.52
201383.210.4315.64
201372.770.8242.18
201361.950.3522.17
201351.60-0.58-26.74
201342.18-0.28-11.35
201332.460.4019.49
201322.060.6950.95
201311.36-0.38-21.95
201301.750.105.83
2012111.650.053.33
2012101.600.2115
201291.39-0.17-10.97
201281.56-0.37-19.14
201271.93-0.33-14.77
201262.260.093.93
201252.18-0.10-4.38
201242.280.6842.48
201231.600.3831.07
201221.220.1817.30
201211.04-0.04-3.34
201201.070.043.59
2011111.040.4990.16
2011100.55-0.15-21.47
201190.690.1733.19
201180.52-0.31-37.06
201170.83-0.09-10.04
201160.92-0.23-19.97
201151.15-0.15-11.54
201141.30-0.41-23.74
201131.71-0.42-19.83
201122.13-0.53-20.06
201112.66-0.17-5.86
201102.830.083.06
2010112.74-0.38-12.23
2010103.13-0.02-0.67
201093.15-0.20-5.93
201083.35-0.09-2.49
201073.43-0.12-3.46
201063.55-0.39-9.93
201053.950.8929.02
201043.060.3311.91
201032.730.041.39
201022.70-0.25-8.51
201012.950.8641.38
201002.08-0.17-7.72
2009112.26-0.84-27.18
2009103.10-2.16-41.06
200995.26-1.24-19.11
200986.51-0.30-4.38
200976.80-0.58-7.89
200967.391.1217.88
200956.270.213.39
200946.060.172.97
200935.890.254.50
200925.630.8618.01
200914.77-0.73-13.21
200905.50-0.61-9.96
2008116.111.0821.43
2008105.032.3486.67
200892.691.1170.23
200881.580.6061.84
200870.980.4999.67
200860.49-0.55-52.82
200851.04-0.67-39.09
200841.70-0.39-18.57
200832.090.4023.96
200821.69-0.35-17.37
200812.040.3621.65
200801.68-0.50-22.90
2007112.180.115.57
2007102.06-0.86-29.41
200792.92-1-25.51
200783.92-0.73-15.77
200774.660.4911.70
200764.170.7020.12
200753.47-0.01-0.18
200743.48-0.13-3.53
200733.610.051.27
200723.56-0.20-5.41
200713.76-0.27-6.68
200704.030.277.03
2006113.77-0.56-12.87
2006104.33-0.84-16.23
200695.160.6013.07
200684.571.6053.73
200672.970.4517.69
200662.520.2511.16
200652.270.010.35
200642.26-0.43-15.99
200632.69-0.17-6.04
200622.870.259.75
200612.610.3414.85
200602.27-0.62-21.41
2005112.890.3714.65
2005102.521.1685.33
200591.360.2320.19
200581.13-0.85-42.73
200571.98-0.47-19.30
200562.45-0.77-23.84
200553.220.092.96
200543.130.8537.20
200532.28-0.20-8.15
200522.48-0.28-10.17
200512.76-0.08-2.74
200502.840.4016.19
2004112.440.156.42
2004102.30-0.28-11
200492.58-0.87-25.24
200483.45-0.10-2.91
200473.560.278.10
200463.290.4415.26
200452.850.3915.62
200442.47-0.84-25.32
200433.30-0.68-17.02
200423.98-0.19-4.65
200414.180.082.03
200404.09-0.01-0.16
2003114.100.102.39
2003104-0.39-8.96
200394.400.5815.18
200383.820.5817.82
200373.240.092.91
200363.15-0.44-12.20
200353.59-0.14-3.87
200343.730.298.33
200333.450.5920.47
200322.86-0.01-0.32
200312.87-0.72-20.14
200303.59-0.16-4.28
2002113.75-0.06-1.53
2002103.81-0.31-7.58
200294.12-0.79-16.10
200284.920.153.12
200274.77-0.48-9.11
200265.25-0.47-8.18
200255.71-0.24-3.96
200245.950.7915.26
200235.16-0.38-6.92
200225.54-0.46-7.63
2002160.305.35
200205.700.6913.77
2001115.010.265.56
2001104.74-0.02-0.40
200194.760.419.46
200184.35-0.12-2.65
200174.47-0.05-1.11
200164.520.6316.15
200153.890.5014.64
200143.39-0.37-9.73
200133.76-0.41-9.80
200124.170.6317.90
200113.54-0.38-9.73
200103.92-0.43-9.80
2000114.34-0.04-0.93
2000104.38-0.13-2.84
200094.51-0.15-3.30
200084.67-0.08-1.75
200074.75-0.13-2.70
200064.880.337.28
200054.55-0.46-9.21
200045.01-0.19-3.66
200035.200.7115.78
200024.49-0.44-8.84
200014.93-0.17-3.39
200005.10-0.05-1.05
1999115.160.081.52
1999105.08-0.19-3.62
199995.270.010.14
199985.26-0.18-3.38
199975.450.183.42
199965.270.214.12
199955.060.173.38
199944.890.112.27
199934.78-0.24-4.79
199925.02-0.16-3.09
199915.180.142.87
199905.04-0.24-4.53
1998115.280.234.48
1998105.05-0.28-5.30
199895.33-0.12-2.13
199885.450.091.64
199875.360-0.09
199865.37-0.17-3.03
199855.540.071.32
199845.46-0.29-5.05
199835.750.101.76
199825.660.071.18
199815.590.010.18
199805.580.040.74
1997115.540.061.02
1997105.480.040.66
199795.450.244.61
199785.21-0.19-3.51
199775.39-0.23-4.02
199765.62-0.09-1.61
199755.71-0.23-3.91
199745.950.6011.23
199735.340.377.36
199724.980.347.39
199714.640.245.46
199704.40-0.06-1.38
1996114.46-0.35-7.23
1996104.80-0.54-10.14
199695.350.122.29
199685.23-0.03-0.66
199675.26-0.09-1.62
199665.350.112.16
199655.240.357.09
199644.890.388.32
199634.510.337.98
199624.18-0.19-4.33
199614.37-0.23-5.06
199604.60-0.30-6.11
1995114.90-0.06-1.27
1995104.960.010.29
199594.95-0.33-6.18
199585.280.265.27
199575.010.071.32
199564.95-0.28-5.40
199555.230.010.11
199545.22-0.25-4.63
199535.48-0.61-10.02
199526.09-0.27-4.25
199516.36-0.07-1.07
199506.430.050.79
1994116.380.162.57
1994106.220.345.84
199495.870.468.41
199485.42-0.25-4.46
199475.67-0.11-1.91
199465.78-0.26-4.26
199456.040.294.96
199445.750.6011.70
199435.150.6915.37
199424.46-0.25-5.33
199414.71-0.01-0.24
199404.730.368.34
1993114.360.153.50
1993104.210.030.82
199394.18-0.34-7.54
199384.520.061.31
199374.46-0.23-4.94
199364.690.276.10
199354.420.122.68
199344.310.092.25
199334.21-0.50-10.59
199324.71-0.11-2.28
199314.82-0.26-5.08
199305.08-0.31-5.71
1992115.390.5110.39
1992104.880.143.05
199294.74-0.33-6.59
199285.07-0.07-1.37
199275.14-0.29-5.35
199265.43-0.32-5.54
199255.75-0.18-3.11
199245.940.274.71
199235.670.183.37
199225.480.061.18
199215.42-0.60-9.95
199206.020.305.32
1991115.72-0.16-2.80
1991105.88-0.34-5.44
199196.220.172.81
199186.050.233.92
199175.820.7915.67
199165.030.265.41
199154.770.245.24
199144.540.020.53
199134.51-0.15-3.27
199124.660.429.83
199114.250.092.14
199104.160.133.35
1990114.020.225.74
1990103.81-0.10-2.44
199093.900.225.98
199083.68-0.76-17.15
199074.44-1.02-18.75
199065.47-0.53-8.83
1990560.101.67
199045.900.386.88
199035.520.5811.78
199024.940.378.10
199014.570.030.64
199004.54-0.64-12.28
1989115.17-0.27-5
1989105.44-0.28-4.93
198995.730.397.27
198985.340.020.29
198975.32-0.18-3.22
198965.50-0.30-5.16
198955.800.091.62
198945.71-0.08-1.35
198935.790.213.85
198925.57-0.40-6.71
198915.970.203.46
198905.770.071.27
1988115.70-0.43-7.06
1988106.13-0.27-4.16
198896.400.132.14
198886.27-0.10-1.62
198876.37-0.08-1.25
198866.450.091.49
198856.360.203.18
198846.160.213.60
198835.95-0.07-1.15
198826.01-0.54-8.27
198816.5600.06
198806.550.203.11
1987116.36-0.30-4.44
1987106.650.559.09
198796.100.101.71
198785.99-0.08-1.34
198776.08-0.70-10.30
198766.77-0.04-0.65
198756.821.4126.17
198745.400.152.83
198735.25-0.77-12.81
198726.03-1.24-17.05
198717.27-0.57-7.33
198707.84-0.89-10.21
1986118.73-0.06-0.72
1986108.800.374.36
198698.43-0.22-2.52
198688.65-0.39-4.32
198679.04-0.13-1.39
198669.161.0312.65
198658.13-0.36-4.29
198648.50-0.11-1.29
198638.610.020.18
198628.590.9011.66
198617.700.081.09
198607.61-0.60-7.28
1985118.21-0.44-5.14
1985108.66-0.26-2.97
198598.92-0.11-1.17
198589.030.252.81
198578.78-0.06-0.62
198568.84-0.47-5.09
198559.31-0.19-1.99
198549.500.161.76
198539.330.111.17
198529.23-0.36-3.74
198519.58-0.08-0.86
198509.67-0.23-2.37
1984119.90-0.23-2.24
19841010.13-0.03-0.33
1984910.16-0.25-2.38
1984810.410.040.40
1984710.370.282.80
1984610.090.535.51
198459.560.161.73
198449.400.738.42
198438.670.212.45
198428.46-0.37-4.24
198418.83-0.38-4.17
198409.22-0.41-4.27
1983119.63-0.70-6.74
19831010.32-0.59-5.44
1983910.920.050.45
1983810.870.353.32
1983710.520.242.36
1983610.280.151.44
1983510.130.869.30
198349.270.434.86
198338.84-0.62-6.56
198329.46-0.51-5.11
198319.970.020.23
198309.95-0.13-1.31
19821110.08-0.46-4.37
19821010.540.090.86
1982910.45-1.06-9.18
1982811.510.494.42
1982711.020.817.94
1982610.210.495.07
198259.72-0.55-5.38
1982410.27-0.51-4.75
1982310.7800
1982210.781.1011.39
198219.681.1713.73
198208.51-0.94-9.93
1981119.450.768.73
1981108.691.0413.61
198197.651.4723.81
198186.180.345.86
198175.84-0.16-2.71
198166-0.27-4.30
198156.270.6511.52
198145.620.224.07
198135.400.8919.65
198124.510.9727.38
198113.540.9436.02
198102.601.0466.58
1980111.560.6164.29
1980100.950.69260.46
198090.260.61-175.33
19808-0.350.34-49.39
19807-0.69-0.62852.79
19806-0.07-1.59-104.80
198051.52-0.43-22.06
198041.942.68-366.04
19803-0.731.18-61.66
19802-1.91-0.5743.09
19801-1.33-0.3232.02
19800-1.01-0.52104.32
197911-0.490.77-60.84
197910-1.26-0.3944.72
19799-0.870.23-20.80
19798-1.10-0.4159.91
19797-0.69-0.3289.42
19796-0.36-0.0725.47
19795-0.290.08-22.31
19794-0.37-0.32576.03
19793-0.06-0.36-118.05
197920.31-0.22-41.62
197910.52-0.50-48.72
197901.020.1415.61
1978110.88-0.08-8.54
1978100.960.1417.44
197890.82-0.65-44.27
197881.47-0.41-21.89
197871.89-0.09-4.47
197861.98-0.09-4.42
197852.07-0.25-10.73
197842.31-0.34-12.65
197832.650.072.90
197822.580.010.20
197812.570.4621.67
197802.11-0.09-3.94
1977112.20-0.01-0.31
1977102.21-0.28-11.40
197792.490.145.82
197782.350.020.99
197772.330.3115.34
197762.020.115.54
197751.91-0.06-3.07
197741.970.2816.27
197731.70-0.54-24.19
197722.24-0.55-19.60
197712.79-0.80-22.27
197703.58-0.40-10.06
1976113.99-0.03-0.81
1976104.020.4813.63
197693.540.030.86
197683.510.288.83
197673.22-0.21-6.08
197663.430.6523.37
197652.780.2811.33
197642.50-0.22-8.23
197632.72-0.07-2.40
197622.79-0.03-0.94
197612.810.4217.65
197602.390.146.15
1975112.250.4323.73
1975101.820.1810.82
197591.640.6666.89
197580.980.70251.74
197570.281.11-133.87
19756-0.83-0.3676.72
19755-0.470.17-26.34
19754-0.640.57-47.45
19753-1.21-0.1614.96
19752-1.050.58-35.47
19751-1.630.48-22.90
19750-2.110.36-14.39
197411-2.47-0.2913.17
197410-2.180-0.04
19749-2.180.30-11.93
19748-2.48-0.7543.61
19747-1.720.73-29.67
19746-2.45-0.4623.25
19745-1.990.28-12.20
19744-2.27-0.5834.75
19743-1.680.23-12.07
19742-1.91-0.4530.70
19741-1.46-0.6070.22
19740-0.86-0.77900.99
197311-0.09-0.65-115.19
1973100.57-0.40-41.64
197390.970.078.03
197380.900.3976.13
197370.51-1.46-74.19
197361.970.3924.44
197351.58-0.40-20.01
197341.98-0.41-17.10
197332.39-0.45-15.87
197322.84-0.73-20.34
197313.57-0.23-6.17
197303.80-0.22-5.55
1972114.020.287.51
1972103.74-0.25-6.37
197294-0.17-4
197284.16-0.28-6.20
197274.440.030.62
197264.41-0.21-4.52
197254.620.6014.82
197244.020.205.11
197233.83-0.02-0.55
197223.85-0.10-2.56
197213.95-0.27-6.45
197204.22-0.10-2.31
1971114.32-0.06-1.45
1971104.390.4812.41
197193.900.329.07
197183.580.6522.35
197172.92-0.24-7.48
197163.160.4215.33
197152.74-0.19-6.32
197142.9300

Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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