Interest Rates: Not as High as You Think

While interest rates may feel high, they’re actually lower than those in the 90s. In the early 90s, mortgage rates often hovered around 9-10%, compared to today's rates, which are generally between 6-7%. For example, a $200,000 mortgage at 10% in 1990 meant a monthly payment of about $1,755, while at 6.5% today, it’s around $1,264. Historically, rates are still relatively low, making now a good time to consider buying a home.

For more information related to interest rates, check out a site such as Bankrate 💸

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