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MORTGAGE INTEREST RATES 1983-2010

Interest rate graph

INTEREST RATES STILL HOLDING!

How long it will last is the question.  Sooner or later. . . . .

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.


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23 Comments on MORTGAGE INTEREST RATES 1983-2009

FEB
09
2010
433,524 Points 10 Featured Posts Outside Blog Attended Rain Camp

Lenn - This should be reblogged for wordless Wednesday. The Chart says it all. Excellent !
4:46pm • #1
1,033,524 Points 165 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Lenn.... you remember 21% interest, I'm sure....if I remember correctly, it lasted for a couple of weeks....I did 40 year negative amortizations through Ahmonson Mortgage Co. and Great Western....we had deals though.
4:54pm • #2
1,545,239 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Claude.  I welcome all rebloggers. 

Barbara.  My goodness.  I did so many "option arms" with Great Western, it was almost my only mortgage company in the late 80s and early 90s.  There was a minimum 10% down.  I must have sold 30-40 homes with that financing.  Loved it.

Not one buyer ever defaulted. 

 
5:01pm • #3
149,166 Points 7 Featured Posts Outside Blog

what a visual! I have to admit my concern as well as to how long this will last. Great tool to motivate buyers... thanks for your work..always great info !
5:11pm • #4
561,734 Points 54 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

All I can say is, long MAY it last.  I would love to follow the sequence of what was happening as these rates were fluctuating, not having been in the business that long.
5:25pm • #5
811,199 Points 91 Featured Posts Outside Blog Called Shot Master

I remember when I first got my license in 1979 the mortgage's in the 1960's were in the 4.5%-6% range.  These rates are historic, and yet I am surprised that no one is beating down our doors to buy!
5:57pm • #6
367,865 Points 38 Featured Posts Outside Blog Hit Router Called Shot Master

Lenn - Great graph.  I do remember 17% on my first home. Must've been nuts!
6:09pm • #7
1,050,325 Points 17 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

This is a graph and I really like the very end and we should be getting into a new home with a 5% interest rate (Bonus)!

VB ;o)
6:09pm • #8
1,139,489 Points 76 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Lenn:  Something this good can't last forever, though I think buyers who want to continue fence sitting seem to think that rates will stay low forever.
6:20pm • #9
481,354 Points 28 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Lenn, I laugh when people complain about the rates inching up. I had a 10% rate when I bought my first place back in 1987. Love the chart!

Hey, I just saw the news and thought of you and several others in the path of the latest storm. Stay warm!
6:23pm • #10
350,805 Points 24 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master

Lenn - Wow reading comments of interest of 17-21%.  We bought our first and it still our home in 1993 - VA at 7.5%, we refinanced in 2004 for a fixed 15yr. at 4.5%.  Great graph :).
6:58pm • #11
313,393 Points 8 Featured Posts Outside Blog

Lenn,

There is a steady downward progression on those bars, which is great. Hopefully it won't turn up anytime soon.
10:27pm • #12
268,411 Points 7 Featured Posts Called Shot Master

Lenn, love the graph and love the trending, but like all trends it must come back eventually.
10:28pm • #13
FEB
10
2010
120,617 Points 5 Featured Posts

From the desk of David Dee,

Lenn, a picture is worth a 1000 words and this graph says it all.
1:08am • #14
1,545,239 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

David.  Indeed.  This graph tells the story for the past 26 years.

Ross.  We just hope the upward swing doesn't come too soon and too fast.

Esko.  My fingers are crossed.

Petra.  I remember when that 7.5% looked pretty good.

Connie.  Thanks.  I'm not hoping for higher rates.  I don't care what they were, only what they are and will be.

Chris Ann.  That, precisely, is my fear.

Robert.  Good for you.

Wendy.  I sold homes at 17%.  Not fun.  A home owner will always want to be a home owner.

Jim.  I suspect that they know that even 5% is a rough payment if one has no job.

Jane.  I've watched them for years with fascination, knowing that our production was directly related to interest rates.  The BOOM of 2004-2006 was interest rate driven.

Michelle.  Thanks.  Spread the word.  We may inspire a few home buyers.
4:59am • #15
1,048,847 Points 177 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

At one point, it almost seems we are playing "Let's see how low it will go"..... A very timely post for what I want to share tomorrow.
5:46am • #16
1,545,239 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Loreena.  Thanks.  I look forward to tomorrow.

 
6:02am • #17
1,545,239 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

THANKS!  TO THE FOLKS WHO HAVE REBLOGGED THIS POST.

  • Jim Hale - On the MOVE for You! Eugene - Springfield Oregon Real Estate (ACTIONAGENTS.NET)
  • Sun City Grand Real Estate Surprise AZ Leolinda Bowers, Associate Broker, CRS (Ken Meade Realty)
  • Jane Peters Los Angeles Living, Los Angeles Homes (BRC Realty Group)
    • 6:24am • #18
    239,238 Points 2 Featured Posts Called Shot Master

    Perfect picture for all the buyers especially 1st time home buyer!! Thanks Lenn I reblogged.
    9:25am • #19
    1,545,239 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

    Ritu.  Thanks.  I get a lot of traffic for this graph on my web sites.  Consumers like it.

     

     
    12:30pm • #20
    207,010 Points 2 Featured Posts Outside Blog

    Lenn, Thanks for the great visual.  If the buyers on the fence don't see that this is the perfect storm for buying, then I don't know how to convience them.

    Nancy
    9:03pm • #21
    FEB
    11
    2010
    1,545,239 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

    Murray.  Right you are.  I don't believe it will last long.

     
    5:11am • #22
    FEB
    16
    2010
    3 Featured Posts Outside Blog

    Easy to read and great info too!  Have a great week!
    9:53am • #23

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