Infographic: History of Mortgage Rates

Vista Del Mar Plan 3 | San Diego | Pardee Homes

Even though mortgage interest rates have recently been on the rise, they still are at historic lows right now compared to earlier years. Check out the long-term view, as well as a closer look at the last decade:

Infographic of Mortgage Rate History Since 1970

Today’s interest rates can mean good news for you and your monthly mortgage payment, as well as what you’ll pay over the long haul. How? When you pay off a mortgage, part of your monthly payment goes first toward your mortgage interest. Then the remainder is applied to your principal. The lower your interest rate, the faster you can start paying down your principal and building equity.

Ready to find a new home for your family? Contact a New Home Specialist today. We’re here to help.

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