Mortgage Rates “Still Great” When Compared to Historical Average
According to Tony Veldkamp of the Herald Tribune, today’s interest rates are “a bargain … historically speaking.”
In 2020 ,the Federal Government reset interest rates to help combat the negative effects of the coronavirus pandemic, leading to the lowest-ever fixed mortgage rate of 2.96% in 2021. While 2022’s rates are double that of the previous year, currently hovering near 6%, it’s still not as bad as the historical average, which peaked around 8%.
Learn More at HeraldTribune.com: “Compared to Historical Average, Mortgage Rates Still Great.”