An analysis of historical 30 year fixed rate mortgage interest rates show that the current interest rates are still low historically. At the peak of the interest rates 18.45% was the highest mortgage interest rates ever went. Today mortgage rates are about 6.42%.
Mortgage interest rates have dropped about 10% from their highs of 7.03% since November 2022. It is likely home mortgage rates will continue to decline into 2023 and almost certainly be lower in 2024 as inflation decreases.