Just looked back at some mortgage data from mid-2023 and it's interesting to see where things were at that point. Back in June 2023, the mortgage rates in june 2023 were sitting around 7.28% for a standard 30-year fixed, which honestly feels like ancient history now given how much has shifted. If you were shopping for a home back then, a 15-year mortgage was running about 6.43%, so there was at least a bit of a spread to consider.

What caught my eye was the monthly payment math on these rates. At 7.28%, you'd be looking at roughly $684 per month per $100k borrowed on a 30-year mortgage, not counting taxes and insurance. Over the full loan life, that would've meant paying nearly $147k just in interest. For anyone doing a jumbo mortgage back then, the rates were actually a touch lower at around 6.93%, which is kind of wild when you think about it.

I know mortgage rates in june 2023 were a pretty hot topic back then because people were trying to figure out if refinancing made sense or if they should just lock in whatever they could get. The APR numbers told the real story though - on that 30-year fixed, the all-in cost was 7.19%, so you really had to do the math before making any moves. It's one of those things where looking back at mortgage rates in june 2023 reminds you how much the housing market can shift in just a couple years.