Mortgage Rate Evolution


I just received this great graph, showing the fluctuations in mortgage rates over the past few years. Over the past few years, I’ve heard time and again that rates must go up. The Fed rate can’t stay zero, etc. And, now, over the 2nd half of 2013 we see rates climbing back up.

Now, before anyone throws up their hands in surrender, please note that these increased rates are STILL lower than they were during most of 2011. And, if you’re old enough (or a good enough history buff), you can look back to the 1980s when rates were around 11-15% (I’ve even heard of 16% home loan rates).

The moral here: though you might have missed perfectly timing the market, now is still a great time for home affordability. If you can afford to buy now, this really is the best opportunity most of us will see in our…

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