The good news is, interest rates HAVE NOT skyrocketed.
This guest post comes to us from our friend, Pete Green, Branch Manager at Atlantic Bay Mortgage Group.
With the onset of strong home sales, housing starts, higher import price, and other key economic factors, not to mention Federal Reserve rate increases, experts pegged 30-year rates to be in the 5% range by now.
While mortgage rates have edged slightly into the mid to high 4% range, they have proven quite resilient and are holding at historical lows. Rates were at their lowest in US history during the financial crisis of 2008. Today, rates are only about 1% above the lowest ever mark but still 12% below the highest mark noted in 1981.
Here are the hard facts based on exact data..
To read the full blog post, click here.
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