The Truth About Interest Rates
Hey, guys! Thanks for visiting my real estate blog!
Our preferred lender Jeffery Nielsen passed along a chart about interest rates to me. As many of you know interest rates have increased over the past couple of months. Today, I wanted to show you this graph and help put our rising rates into perspective.
This chart goes all the way back to 1983 through today. In 1983 interest rates were at 13.24 percent. In 1990 they were at 10.13 percent. In 2001 they were 6.97 percent. Finally, in the first quarter of 2013 interest rates were at 3.68 percent.
So, while we are seeing a slight increase from the beginning of this year, rates are still historically low. If you are thinking about buying a home, do it now!
If you want to get started looking for a home, give me call!
