Friday, June 3, 2022 / by Ameil Gill
WHAT WAS YOUR INTEREST RATE WHEN YOU BOUGHT YOUR FIRST HOUSE?
Yes — it’s 2022, not 1982 ... interest rates have certainly changed, along with many other aspects of the industry (construction standards, mortgage underwriting, home values, marketing, etc).
Just curious, what was the interest rate for your first home?
There has been a lot of discussion around interest rates — we’re seeing scenarios where the typical fixed-rate mortgage might not be the best product for you. For a 30-year fixed-rate mortgage just in the past 5-6 years, we have seen interest rates adjust from 4% down to 2.5% and back up to 5.5% — a lot can change in one year and it’s important for us to remember the cyclic nature and flow of the housing market. Real Estate continues to be one of the greatest (often the most profitable) investments you can make. Have questions about the rising rates or our current market? Send me a message! #realestate #realtor #realestateagent #home #interestrates
Just curious, what was the interest rate for your first home?
There has been a lot of discussion around interest rates — we’re seeing scenarios where the typical fixed-rate mortgage might not be the best product for you. For a 30-year fixed-rate mortgage just in the past 5-6 years, we have seen interest rates adjust from 4% down to 2.5% and back up to 5.5% — a lot can change in one year and it’s important for us to remember the cyclic nature and flow of the housing market. Real Estate continues to be one of the greatest (often the most profitable) investments you can make. Have questions about the rising rates or our current market? Send me a message! #realestate #realtor #realestateagent #home #interestrates
