Mortgage Rates May Stay Low for a Long Time
Why aren’t they rising? Are they the new normal? In November 2012, the interest rate on a 30-year home loan averaged just 3.31%. That was an all-time low. Simultaneously, the 15-year fixed-rate mortgage averaged just 2.63% interest and the rate on the adjustable 5/1-year loan fell to 2.74%.1,2 Nearly four years after Freddie Mac reported […]
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