Mortgage Rates Over The Decades
You may think the cost of home ownership has gone up as housing prices have increased through the decades. But as this report for Keeping Current Matters shows, due to our historical low interest rates the average monthly mortgage payment is considerably lower than even 20 years ago.
Some Highlights:
- With interest rates still around 4% now is a great time to look back at where rates have been over the last 40 years.
- Rates are projected to go up a full percentage point by this time next year according to Freddie Mac.
- The impact your interest rate makes on your monthly mortgage cost is significant!
- Lock in a low rate now while you can!
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