Interest Rates Over Time!
With interest rates hovering at near historic lows, now is a great time to look back at where they have been, and how much they have changed over time.
According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low.
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 is time to lock in now while rates are still low. Let’s find out if the time is right for you to act!