1990 - 2021 Overview: If you are in a position to purchase, purchase! - Michele Van Zandycke

1990 - 2021 Overview: If you are in a position to purchase, purchase!

by Michele Van Zandycke 02/01/2021

'AVERAGE' INTEREST RATES (30 year fixed) for the past 20 YEARS:

1990:10% 2000:7.5% 2010:5% 2020:3.5% 1991:10% 2001:7% 2011:4.5% 2021:3% (?) 1992:7.5% 2002:6.5% 2012:3.75% 1993:7.5% 2003:5.75% 2013:4% 1994:8% 2004:5.75% 2014:4.25% 1995:8% 2005:6% 2015:4% 1996:7.5% 2006:6% 2016:4% 1997:7.5% 2007:6% 2017:4% 1998:7% 2008:5.5% 2018:4.5% 1999:7.5% 2009:5% 2019:4.25%

Realtor.com estimates a home price increase of almost 6% this year:

Ex: Jan 2021: $300,000 mortgage @2.7% interest rate + P&I (Principal/Interest) = $1,217 Dec 2021: $317,000 mortgage @3.4% interest rate + P&I (Principal/Interest) = $1,406 -> Monthly difference of $189 The difference over the life of the loan (30 years) is $68,115

If you are in a position to purchase, purchase:)!

About the Author

Michele Van Zandycke

I am excited you are visiting my website and I would love to assist you and get to know you a little bit better. Whether you are in the research phase at the beginning of your real estate search or you know exactly what you are looking for, you will benefit from having a real estate professional by your side. I would be honored to put my real estate experience to work for you. I am very passionate about what I do and look forward to becoming part of your journey. I cannot wait to meet you all!

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Based on information submitted to the MLS GRID as of 11/24/2024 02:14 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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