Posted by Allison Wilkinson on Friday, February 21, 2020 at 5:00 AMBy Allison Wilkinson / February 21, 2020Comment
According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low.
With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time.
The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan.
Maybe it’s time to lock in now while rates are still low.