The History of Interest Rates

A gentle reminder that today’s interest rates are, yes, inching upwards, but they're still historically low! Just take a look at the data from Freddie Mac. You'll see the same trend I did — that rates are getting lower every decade. Average 30-year rate by decade: 

1981: 16.63%

1991: 9.25%

2001: 6.97%

2011: 4.45%

2021: 2.96%  

In early June 2022, the average rate for a 30-year mortgage was 5.42%. Sure, higher than we'd like, but not so bad when you look back 50 years. So buyers, keep your chins up, and don't be afraid to go after your homeownership dreams this year. And, of course, let me know if I can help — I’ll be here when you’re ready.