200 years of Interest Rates - Rates have edged up a bit - Buy NOW!

Real Estate Broker/Owner with Benton, Linn and Douglas Counties Call Terri today!

200 years of Interest Rates - Rates have edged up a bit - Make your move now!

I received this graph from a mortgage lender.  They say "a picture is worth a thousand words."  This graph gives us a visual of just how low the interest rates have been the past few years.  It is easy to get complacent and not know a good deal when we see one.

Interest rates have a strong impact on how much a buyer can afford.  When there are less buyers, then the sellers have a harder time selling their home.  The good ole SUPPLY/DEMAND rule we learned in high school.  Don't wait and miss the wonderfully low interest rates. 

Search for homes in Corvallis and Albany, Oregon

Search for homes in Santa Cruz County, California



Comments (4)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

HI  Terri,    doesn't take long for our government to start the hike in rates.

Jul 19, 2013 03:42 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
Terri - That is a very interesting graph for putting things in perspective.
Jul 19, 2013 03:48 PM
Michele Peterson
Sellstate Realty First - Roseville, CA
Sellstate Realty First

I just can't imagine a 19% interest rate on a home loan.


Would the market place come to a stand still.


As a side note, I am already hearing about loans that are locked at 3.1% being assumed by the new owners vs. paying 4.5%


Jul 19, 2013 04:29 PM
Terri Woods
Benton, Linn and Douglas Counties - Days Creek, OR
Selling Homes and Land in Oregon

Hi Ronald, Christine, and Michele - Thanks for finding my blog.  I am still fairly new to the Active Rain group so I appreciate you reading what I wrote.  

I started selling a long long time ago (thus the black and white pictures - to hide my wrinkles :)), and we were trained to qualify buyers on our own.  Back then, we had to learn how to work with negative amortization.  I still have my handy dandy TI calculator - never did switch to HPs since I learned the Texas Instrument calculator so well. I remember one buyer's interest rate was 21%.  Looking back at the rates, there must have been something else to that buyer's loan because the rates on the charts seem to only go up to 16%.  But in Texas, I know rates were higher.  

Then... when rates were in single digits, that was wonderful.  Last year, we refinanced our home at an interest rate below 3%.  I talked to our lender friend recently asking him if the rates were any lower to refinance again, and jokingly, he replied... "I'll call you when they hit 1%."  I guess we got a great deal.  

Anyways, I have not heard of any assumable loans lately.  Used to, we did so many.  I will have to check that out.  Thanks again for y'all's comments!

Jul 19, 2013 04:50 PM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?