Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

By
Real Estate Agent with Real Estate Technology Partners 2004010624

Be thankful you dont have to pay your parents interest rate

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year.

The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your dream home this year.

Let’s take a look at a historical view of interest rates over the last 45 years.

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate! | Simplifying The Market

Bottom Line

Be thankful that you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

Posted by

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Tags:
interest rates
home buying

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
477,341
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

Very true, Jim West. I bought my first home in 1982 and rates were "down to" about 18%! We r5efinanced at some point a few years later to around 12% and thought were were doing SO well...

We'll certainly hope things won't ever get that bad again!!
Bruce

 

Mar 30, 2018 06:40 PM #1
Ambassador
1,949,550
Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

That is a great perspective. Interest rate was 14% for my first.

Mar 31, 2018 12:00 AM #2
Rainmaker
103,499
Jim West
Real Estate Technology Partners - Marysville, OH
Our Passion Is Helping 1st Time Home Sellers

Thank you Michelle. Mine was 18%. 

Apr 03, 2018 05:40 PM #3
Post a Comment
Spam prevention
Show All Comments

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

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

Rainmaker
103,499

Jim West

Our Passion Is Helping 1st Time Home Sellers
Ask me a question
*
*
*
*
Spam prevention