Interest Rates and Home Ownership

Interest Rates and Home Ownership

Interest rates and home ownership continue to be in the news.  We have been observing a couple of weeks of record low interest rates.  To put it into perspective, in 1982, 30 year fixed rate loans were at 16.02%.  The trend over the last 30 years has been downward from that high, down to 3.92% in the first quarter of 2012.  The average annual rate has been 8.32% over the past 30 years. [source Freddie Mac].

So what does this mean for home ownership?  It means that with careful selection of a home, through the recommended use of a qualified realtor; as well as working with a good loan officer --an individual can maximize the current prices on homes as well as leverage the low interest for the purchase.


Vicki McLellan Headshot
Phone: 425-301-2595
Dated: June 24th 2012
Views: 1,561
About Vicki: I'm a full-time licensed professional and love what I do. I use that enthusiasm to make the process ...

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