Historic Mortgage Rates
Mortgage interest rates have been all over the board in the past 40 years.
Fortunately, we are living and borrowing in a time that have low rates compared to what we have seen a few short decades ago. Looking at the chart below can you imagine purchasing a $200,000 home in October of 1981 and paying 18.63% interest for a whopping $3,177 in principal and interest on your loan!
Fortunately, we are living and borrowing in a time that have low rates compared to what we have seen a few short decades ago. Looking at the chart below can you imagine purchasing a $200,000 home in October of 1981 and paying 18.63% interest for a whopping $3,177 in principal and interest on your loan!
