Frederick Home Buyers Experience Historically Low Interest Rates
Mortgage rates have dipped to historical lows these past 3 years… Historically low mortgage interest rates.
In spite of the record levels of affordability created by the combination of these low rates and the low prices of real estate, the number of sales have been sluggish. As the economy continues to improve, we’ll see interest rates start to rise. We’ll also see more confidence in the economy, leading more people to buy a home.
If you’re on the fence about a real estate purchase, consider this chart of 30-year-fixed rates since they were first recorded in 1972:
It’s not really an exaggeration to use all caps and bold letters to say:
These are HISTORICALLY Low mortgage rates. Since interest rates have been documented, the average all-time interest rate is about 8.5%. When you consider that interest rates reached a low of about 3 1/2%, that historical 8.5% seems really high!
Don’t forget: Low rates allow you to qualify for more house.
Call us for our list of Preferred Lenders and find out how much you qualify for.
The Highland Group
Frederick, Md 21701