Gentle reminder that today’s interest rates are, yes, inching upwards, but they’re still historically low! Just take a look at the data. You’ll see the same trend we did — that rates are getting lower every decade.
Average 40-year rate by decade:
1982: 19.22%
1992: 9.26%
2002: 6.90%
2012: 4.23%
2022: 3.25%
In early July 2022, the average rate for a 30-year mortgage was 3.25%. Sure, higher than we’d like, but not so bad when you look back 40 years.
So buyers, keep your chins up and don’t be afraid to go after your homeownership dreams this year. And, of course, let us know if we can help — we’ll be here when you’re ready.
