It seems I keep getting asked “how low are interest rates right now?“, and I keep getting quizzical looks when I respond:
“The lowest they’ve ever been.” Well, the lowest they’ve been in 30 years. I’m serious.
The Virginia Association of REALTORS put the following graphic together, with information from Freddie Mac:
You can download the whole PDF here – http://www.varealtor.com/LowRates.
Like a lot of you, I find the line “there has never been a better time to buy” a bit insincere, when so much is being made of what’s negative in the housing market. Nevertheless, the truth is that rates are the lowest they’ve been in 30 years, and if it makes sense for YOU then it’s a good time to buy.