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Should I Pay A Mortgage Interest Rate Over 4%?

Thursday, November 19, 2015   /   by Matthew Freda

Should I Pay A Mortgage Interest Rate Over 4%?

Should I Pay A Mortgage Interest Rate Over 4%? | Simplifying The Market

Should I Pay A Mortgage Interest Rate Over 4%?

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Along with Freddie MacFannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters.

 

This has caused some purchasers to lament the fact they may no longer be able to get a rate less than 4%. 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.

Historic Mortgage Rates By Decade | Simplifying The Market

Bottom Line

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.

 

Matthew
Freda
 
 
Freda Realty, Inc.
Longwood, FL
(407) 513-4724
Freda Realty...Experience the Difference!
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eXp Realty, LLC
Matthew Freda
651 W Warren Ave
Longwood, FL
407-513-4724

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