My parents bought our first house in 1979 and they said the interest rate was 12%
I bought my house in 2002 and had a 6.5% interest rate. That was the lowest rates had ever been at least going back to 1970. A year later I refinanced down to 5.5% and then in 2010 down to 3% before paying it off a few years later.
So yeah 5.78% is higher than the rates of the last 15 years but historically it is still quite low.
I bought my house in 2002 and had a 6.5% interest rate. That was the lowest rates had ever been at least going back to 1970. A year later I refinanced down to 5.5% and then in 2010 down to 3% before paying it off a few years later.
So yeah 5.78% is higher than the rates of the last 15 years but historically it is still quite low.