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:
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.
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