Interest rate History over the past 20 years.... Pretty color chart and all!

By
Real Estate Mortgage Broker with HomeBridge Financial Services (NJ) NMLS 248937

 

If you have read my profile you know that I have been in the business for over 20 years, I have seen a lot of ups and downs since the late 1980s both in business and in interest rates. One thing that has always caused me to bite my tongue is a conversation on rates. How often have you heard a client say : "Rates are high"? I just bite my lip and laugh to myself.  My first house I paid over 11% on my loan, and I am in the business!!!

I know that I look at rates today and think they should be lower based on economic conditions.  But historically speaking we are still quite low. The average rate over the past 20 years is 7.68% and for most of this year we have  been solidly in the 6's and keep flirting with the high 5's.  So: DARN IT... Rates are GREAT!!!

interest rate history

And keep in mind that this chart cuts off the REALLY high years in the early 1980's when the rates were well into the teens, So a 30 yr average is even higher.

Things are GREAT! we just need to be focused on the positive aspects we have to deal with and pass that information along to our clients as well.

Have a great day!

Rob

Robert Rauf

Real Estate Mortgage Network

REMN

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  1. Mirela Monte 11/14/2008 12:31 PM
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Rainmaker
563,896
Robert Rauf
HomeBridge Financial Services (NJ)

Thank You Lisa!  sleeping better???

November 16, 2008 10:22 AM
Rainer
213,608
Lisa Friedman
Central New Jersey Real Estate
Alliance Realtors

A resounding 'Yes'!

November 16, 2008 10:33 AM
Rainer
213,608
Lisa Friedman
Central New Jersey Real Estate
Alliance Realtors

After six sleepless nights, slept 25 of 34 hours.  I should write a blog post on caffeine!

November 16, 2008 10:34 AM
Rainmaker
563,896
Robert Rauf
HomeBridge Financial Services (NJ)

Hopefully you get to a more normal schedule this week! 

I am off to visit some Open Houses today.. Wish me luck!

November 16, 2008 10:37 AM
Rainer
213,608
Lisa Friedman
Central New Jersey Real Estate
Alliance Realtors

Luck!

November 16, 2008 10:42 AM
Anonymous
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Rainmaker
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Robert Rauf

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