From the 1970s to the present, interest rates have evolved to favor homebuyers like never before. In the past, rates reached as high as 18.63%. Explore the history of 30-year-fixed interest rates below to see that while we may not have the unprecedented rates of 2021 and early 2022 (and likely never will again), current rates are still historically on the lower end.
If interest rates should go down in the future, homeowners have the option to refinance for a lower monthly payment. However, if rates rise, your monthly payment amount will be protected by your fixed rate.
Contact us today to discuss today's rates, as well as all aspects of the costs of buying a home - and the costs of waiting to buy.
