In Perspective – Historical 30 Year Fixed Mortgage Rates

Many buyers are concerned with interest rates rising and that’s certainly valid as a higher interest rate means a higher monthly payment which most often means that you can’t afford a home you might have only months earlier.  Taken in historical standpoint the current rates are dramatically lower than at just about any other time.  The chart below shows the interest rate on conventional and conforming 30 year fixed rate mortgages.  As we’ll see we’ve basically seen rates drop consistently since the high water mark of 16.3% in 1981.  It certainly makes todays current rate in the mid 4% range seem pretty enticing.

DRE# 01712785