Just looked back at mortgage rate data from mid-2023 and it's interesting to see how things were moving back then. The 30-year mortgage rates june 2023 were hovering around 7.12%, which had actually dipped a bit from 7.24% the week before. If you were looking at shorter terms, the 15-year was sitting at 6.55%, also trending down. The jumbo mortgage rates june 2023 were even higher at 7.19% for 30-year fixed, so definitely a premium for larger loans.

What caught my attention was the monthly payment breakdown - on a standard $100k mortgage at 7.12%, you're looking at roughly $673 monthly just for principal and interest. Over 30 years, that adds up to about $142k in interest alone. The 15-year option cost more per month ($874) but saved you a ton on total interest (around $57k). There was also the 5/1 ARM option floating around at 6.04% if you were willing to take that risk early on.

The thing about comparing mortgage rates and APR back then was that APR gave you the fuller picture - it included all the lender fees, not just the base rate. A lot of people just looked at the headline rate and missed what they'd actually be paying. If you were refinancing, you'd want to check both numbers carefully to see if it made sense.