11/02/2023
Last week, a new client asked me when I thought the interest rates would ‘return to normal?’ Having personally seen interest rates as high at 18% and knowing I bought my first home when rates were over 8%, I felt confident that they are normal right now. But plenty of folks are more learned in finance than me so I pulled up a historic chart of the interest rates to check. Check out what I found:
When it comes to budgeting for a home, one of the most impactful items to consider is the interest rate of your loan. Mortgage rates can significantly impact your monthly payments and the overall cost of your home over time. But what is a 'normal' interest rate on 30-year conventional mortgage? To a...