The current mortgage rate of 7.1% has garnered significant attention in the real estate market. Although some may perceive this rate as high, it is essential to place it in context by examining historical trends. Over the period from 1971 to 2023, the average mortgage rate has been 7.4%, with a staggering peak of over 18% in late 1981. This article aims to explore the current mortgage rate of 7.1% and highlight how it remains below the long-term average.