EVERYONE is talking about interest rates rising.
Rates are changing but let’s put it all in perspective.
I thought it was a bargain when Dan Crow and I bought our own home at 12.5% interest. Today’s rates don’t scare me at all.
Please see some nifty tools below to help you think about mortgage expenses today. First, a feed for current rates. You can usually find better than national averages at CapFed.com. Then, an easy chart for figuring the real cost of monthly principal and interest for 15 and 30-year loans. Finally, an overview of interest rates from my long career. Yes, we sold houses in allllllll of those years.
Please let me know your questions. Financing homes/shopping loans is a special expertise of mine, a topic I love to discuss.
Current Interest Rates:
The cost of borrowing $1,000 for 15 or 30 years:
Average 30-Year Mortgage Rate
