Historical Mortgage Interest RaTes

[curtintex]

Just because…..

[tps7742]

That chart came from a quick google search but it looks fairly accurate. I am still having difficulty or haven’t taken the time to learn to attach a link. I keep seeing folks waiting on interest rates to come down to buy real estate. Hopefully it will workout for everyone.

[miket]

Yep. The real issue is prices, not interest rates. I have told numerous people that rates are not high. We had a long run of abnormally low rates that spoiled us. Now they are closer to normal and it shut real estate sales down, IMO due to high real estate "values"

[tps7742]

Yep. The real issue is prices, not interest rates. I have told numerous people that rates are not high. We had a long run of abnormally low rates that spoiled us. Now they are closer to normal and it shut real estate sales down, IMO due to high real estate "values"

You are “absolutely” correct imo.

[miket]

The interest rate on the property I bought this Fall ( when rates were at their highest ) is lower than the rate I got on the property I bought in 1999.

[Gumbo Man]

Can I refinance that 20 dollars that I owe you Curt. That 30% seems a little high now.

[Dale Moser]

I’m not an expert on charts… But that one appears to show that there’s absolutely nothing historical about current interest rates.… No matter how many times you post.

[Austin]

This sums it up

*** well hell I now see what’s going on here

[Traildust]

I’m not an expert on charts… But that one appears to show that there’s absolutely nothing historical about current interest rates.… No matter how many times you post.

Yup....it's in between the high peak and low peak....not sure what we're looking at either

[jerp]

I

[jerp]

I graduated from college in 1979 and a couple years later I started thinking about buying a house. My folks had just paid off the mortgage on the house they bought in 1956 and dad told me their rate had been around 5%. The rate on the 30 year was in the mid teens at the time and I remember thinking we'd never see rates that low again, and wondered how I'd ever be able to afford a house that I would be willing to live in. Little did I know I would live to see the 30 year hit 2.5%

[Jet Black]

Now overlay avg home price

[miket]

I’m not an expert on charts… But that one appears to show that there’s absolutely nothing historical about current interest rates.… No matter how many times you post.

It looks to me like rates are lower now than they were for about 30 of the last ( approx ) 50yrs.

[miket]

Now overlay avg home price

I would venture to guess you could just turn that chart upside down and it would be pretty close. Most people seem to only care about the monthly payment.

[Traildust]

It looks to me like rates are lower now than they were for about 30 of the last ( approx ) 50yrs.

But higher than the last 20 years