Chart Showing Average Mortgage Rates Over Past 30 Years
I always like to look at this chart. It shows yearly averages of conforming loan rates for a 30 year fixed loan. For those of us who weren’t around to enjoy a 16% interest rate on a mortgage in the 80’s, this puts things in perspective. Obviously you only buy if yo are ready to become a homeowner. But with prices down and rates at 30 year lows, for someone who is considering entering the market, this may just be the push you need!
Click on chart for much larger version!