Interest Rates By Decade
Real Estate Highlights:
- Your mortgage interest rate impacts your monthly housing costs.
- In the 1980s, a 30-year fixed mortgage rate averaged in the high 12 percent, making the monthly principal and interest payment on a $200,000 loan amount over $2,000.
- Today, interest rates are at historic lows. It is a great time to lock in your housing cost, i.e. your interest rate.