Been looking back at some mortgage interest rates data from June 2023, and it's wild how much things shifted since then. Back then, the 30-year fixed was sitting around 7.11%, which felt high at the time. The 15-year was 6.53%. A lot of people were stressed about those numbers.

What's interesting is how the Federal Reserve's rate hikes were basically driving everything up. If you had a $100k loan at those June 2023 mortgage interest rates, you were looking at like $673 monthly on the 30-year. Over the life of the loan, that's $142k+ in interest alone.

Jumbo mortgages were even worse - 7.18% average back then. The 5/1 ARMs were sitting at 6.04%, which some borrowers thought was a decent alternative at the time.

I remember people were comparing lenders like crazy in June 2023, trying to find any edge they could get. The housing supply was tight, inventory was low, so prices weren't budging much. Made it tough for first-time buyers especially.

Interesting to see how mortgage interest rates have evolved since that period. The whole market dynamics shifted pretty significantly.