# 1970s Mortgage Rates vs Today's Frozen Market

> Mortgage rates in the 1970s hit 15% while today's 7.4% rate froze the housing market.
- Title: 1970s Mortgage Rates vs Today's Frozen Market · 24/7 Wall St.
- Summary: Mortgage rates in the 1970s hit 15% while today's 7.4% rate froze the housing market. High 1970s mortgage rates and today's 7.4% rate both froze the housing…
- Keywords: mortgage rates, housing market, 30-year fixed mortgage, case-shiller index, 10-year treasury yield, fed rates, 1970s, Mortgage, Rates, Today's, Frozen, Market
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/10/21/1970s-mortgage-rates-were-much-higher-than-todays-7-4-and-the-housing-market-still-boomed-so-why-is-it-frozen-now
- Author: AJ Tiarsmith
- Published: 2026-10-21T21:17:06+00:00
- Read time: 1 min
- Topics: mortgage rates, housing market, 30-year fixed mortgage, case-shiller index, 10-year treasury yield, fed rates
## 1970s Mortgage Rates
Mortgage rates in the 1970s regularly topped 15% and buyers lined up.
## Today's Mortgage Rate
Today a 30-year fixed mortgage rate near 7.4% has nearly frozen the housing market.
## Housing Starts Drop
Housing starts fell nearly 7.5% year on year in September, hitting a 25-year low.
## Rate Shock in Months
Freddie Mac's 30-year average reached 7.40% on October 15, up from 5.98% on February 26.
## Why Fed Relief Skipped Buyers
Mortgages are priced off the 10-year Treasury yield, which hit 5.15% on October 19.
## Housing Prices Keep Rising
Home prices rose 1.9% year over year in July, setting a record with the Case-Shiller index.
## Market Frozen Now
The housing market is frozen by two forces: rising long-term yields and tight credit standards.
## Key takeaway

High 1970s mortgage rates and today's 7.4% rate both froze the housing market despite past booms.