Ielts Academic Writing Task 1 Sample 68

You should spend a maximum of 20 minutes on this task. Write about the following topic: 

The image provides information about the average 30-year fixed mortgage rate in the United States.

Summarize the information by selecting and reporting the main features, and make comparisons where relevant.

You should write at least 150 words.

The graph depicts the fluctuations in average 30-year fixed mortgage rates in the United States from 2002 to 2024. The data reveals significant variations over this 22-year period.

At the beginning of the timeline in 2002, mortgage rates were approximately 7%. The rates then exhibited a general downward trend until 2012, reaching a low point of around 3.5%. From 2012 to 2020, rates remained relatively stable, fluctuating between 3% and 5%.

A notable shift occurred in 2020, with rates dropping to their lowest point in the observed period, just above 2%. However, this was followed by a sharp and unprecedented increase, peaking at about 7.5% in late 2022.

The most recent data point, marked as August 22, shows a slight decline to 6.46%. Despite this recent decrease, the current rate remains substantially higher than the historical lows observed in the preceding decade, indicating a significant shift in the U.S. mortgage market landscape.