For the week of 10/9/1981 the 30 year rate was a whopping 18.63%! According to Freddie Mac, mortgage interest rates today are currently hovering near a five-decade low.

 

Some Highlights:

• With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time.
• The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low.
• Note: Your own interest rate may vary depending on your qualifications or loan type.
• Contact you own loan officer or one of these lenders to get your personalized loan rate.