Came across some old mortgage rate data from May 2023 and thought it was interesting to look back at where things were. The 30-year fixed mortgage rates back then were sitting around 6.85% APR, which honestly seems wild compared to what we're seeing now. For context, a 15-year fixed was at 6.16% during that same period.

What struck me was the monthly payment breakdown they showed—if you locked in a 30-year mortgage at 6.85% on a $100k loan, you'd be paying roughly $655 monthly in principal and interest. Over the life of that loan, you'd end up paying about $135k in total interest. That's the kind of math that really makes you think about timing in the housing market.

Jumbo mortgages were even higher at 6.94%, and the 5/1 ARM option was offering 5.76% for those willing to take that risk. Looking back at may 2023 mortgage rates, it's clear that was a different era for home financing. The 52-week range at that time showed the low was around 5.26% for standard 30-year fixed mortgages, so rates had been climbing throughout that year.

The whole APR concept is worth understanding too—it's basically your true all-in cost when you factor in fees and interest combined. That's what actually matters when you're comparing loans, not just the headline rate. Anyway, interesting to see how may 2023 mortgage rates compare to what's happening now in the market.