Mortgage interest rates, asreportedby Freddie Mac, have increased over thelast several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.
This has caused some purchasers to lament the fact that they may no longer be able to get a rate below 3.5%. However, we must realize that current rates are still at historic lows.
Here is a chart showing the average mortgage interest rate over the last several decades:
Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.
Data is updated as of April 19, 2018 8:55 PM. Information deemed reliable but not guaranteed.
The data relating to real estate on this web
site comes in part from the Internet Data Exchange (IDX) Program of Realcomp Ltd. Real estate listings held by firms other than eXp Realty Michigan are marked with the Realcomp Internet Data Exchange logo or thumbnail logo and detailed information about them includes the Listing Broker's Firm Name.
The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.