Everyone seems to be scared about the increase in interest rates. Buyers fly out of control when rates creep toward 5%. However, rates are still historically low. What decade saw the highest interest rates over the last 40 years?
The 1980’s saw rates at an average of 12.7% according to this Keeping Current Matters graphic based on $200,000 30-year mortgages over the years. Even with a small increase in rates, monthly payments will continue to remain historically low!