One score and 19 years ago, 7.63% was the rate on a 30 year fixed, conforming mortgage. Today, mortgage interest rates sit a four decade low.. The chart below shows the 30 year fixed, conforming interest rate history from 1971—since the Federal Open Market Committee (FOMC) has been tracking this rate—to September 2010.
They give. They take. And now, they’ve given again but this time only for 2009. What am I talking about? Congress and conforming loan limits, my friend. California, and especially our Fantasy Island, San Mateo County, have some of the highest prices for homes in the continental US.. We all know this but until last…Read More »
If you have been in the housing market lately you are keenly aware of what’s going on in lending. Rates have gone up from the historic lows of a few years ago. Get past it folks, we will never see 4% interest rates again in our lifetimes. Where the rates are sitting today, hovering around…Read More »