With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!
According to Freddie Mac, rates are projected to increase to 3.9% by this time next year.
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 and $7,200 over the life of your loan.
Maybe it’s time to lock in now, while rates are still historically low.
![The Cost Across Time [INFOGRAPHIC] | Simplifying The Market](https://www.realtybymonica.com/wp-content/uploads/2019/11/20191122-MEM.jpg)
November 22, 2019
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