If you visit the government's historical website on mortgage interest rates they go back to April 1971. They have collected the average monthly mortgage rates for over 39 years. They have 472 monthly average rates posted on their website that go back to 1971 and end with June of 2010.
The highest 30 year mortgage rate recorded in 39 years was 18.45% in October of 1981.
The average interest rate recorded in the last 39 plus years for a 30 year mortgage rate is 8.96%.
The lowest 30 year mortgage rate recorded in the last 39 plus years is 4.43%. August 2010 is the lowest recorded rates in the last 39 plus years.
When you are purchasing a new home, you generally think about the COST of your new home. What is my monthly payment going to be? Interest rates determine your monthly payment. Interest rates determine your monthly cost of home ownership. NOW is a great time to keep the cost of home ownership down. Find the home you can afford during these historical low interest rates and contact a Semonin agent to help you and a HomeServices Lending mortgage consultant to help finance your mortgage. We can also help you with homeowners insurance, home warranty, and title services.
Semonin is the only full service, one-stop brokerage company you will need!!
