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Thursday, May 5, 2011
A History of Interest Rates
Take a look at this simple chart (compliments of Rusty Maddox with Fairway Independant Mortgage) and see how interest rates have changed since 1991. We've all gotten used to these historically low rates, but really, how long can this last?
Most leading economic predictions are calling for higher interest rates the last half of this year. So, if homes cost less later in the year but interest rates rise, this can end up costly your more over the life of the mortgage.
Most leading economic predictions are calling for higher interest rates the last half of this year. So, if homes cost less later in the year but interest rates rise, this can end up costly your more over the life of the mortgage.
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