With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time.
According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low.
The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low.
![Interest Rates Over Time [INFOGRAPHIC] | Simplifying The Market](https://lets-talk-real-estate.com/wp-content/uploads/2020/02/20200221-MEM.jpg)
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