The phrase, "Historically Low" has been thrown around quite a bit in the past year in regards to mortgage rates. I was curious to see a concrete history of mortgage rates. Thankfully, we have the Internet to guide us with such queries. Below is a chart showing just how 'Historically Low" the current rates are since 1983.
The figures I used are yearly averages, based on a 30 year conventional rate with zero points.
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This is so funny to look at, so many people today over here in Oregon complain how the rates need to go lower before they move forward… The rates are plenty low.