Over the past 45 years, interest rates on the 30-year fixed-rate mortgage have ranged from as high as 18.63% in 1981 to as low as 3.31% in 2012. Mortgage rates today remain at historic lows, with over 60% of mortgage holders paying rates between 3.95% and 4.94% as of 2018. We used interest rate data from Freddie Mac’s Primary Mortgage Market Survey (PMMS) to examine historical mortgage rates and the factors that have impacted their downward trend. Mortgage rates are more sensitive to market fluctuations than most other loans. These pools of loans, known as Mortgage Backed Securities (MBS), are bonds sold to investors and whose prices are determined by market conditions (loosely tied to the 10-year treasury yield). As the prices of MBSs fluctuate in the market, so do mortgage interest rates. Rates are expected to continue climbing into 2019 and beyond as the economy continues to grow and the fed adjusts the borrowing rate higher to keep a check on inflation. Considering the historic lows in interest rates and decreased demand in the real estate market due to seasonality and price increases, first time buyers will have a window to enter the market not seen since 2012-2013.