The recent rise in inflation brought mortgage rates to the highest rates in over 20 years. The current 30-year fixed rate mortgage rate is 6.88% which is more than double what rates were during most of 2020 and 2021. However, when looking at mortgage rates from a broader, historical perspective, they may not be as high as you think.
Read the article in CBS News Moneywatch featuring features Quinn Residences to learn why today’s mortgage rates, while not ideal, may not be as bad as some buyers believe.
”The 30-year fixed-rate mortgage gained popularity around the 1950s. The average rate since then has hovered around 7%, which interestingly enough, is similar to what it is today".
Richard RossCEO, Quinn Residences
Read the article in CBS News Moneywatch featuring features Quinn Residences to learn why today’s mortgage rates, while not ideal, may not be as bad as some buyers believe.
