It’s hard to believe we’ve had a 32-year ride. But there it is. From 17.6% for a 30 year fixed in 1982, falling, falling, falling to 3.4% 31 years later. Who’d have guessed?
But here we are.
And as you can see after bottoming about a year ago, rates have moved up over the last several months. There has been a bit of a respite these last few weeks but I wouldn’t count on that remaining.
Yes, there are periodic ups and downs, but it would appear the multi-decade downtrend is over and has started to reverse itself. If you are thinking about buying a home, or some investment property, I encourage you to act now.
As you can see, rates are still near rock bottom. But I do not expect them to stay there.
Take a look at our listings http://www.silverwoodproperties.net or call me directly – 213-250-4404. I’m here to make your real estate dreams come true.