How low are record-low mortgage rates? Really low!
In July, the average interest rate for a 30-year fixed-rate mortgage dropped below 3% for the first time ever. But how big of a deal is a 3% mortgage rate, and how does it affect the average homebuyer or homeowner? To appreciate just how incredible these low rates are for mortgage borrowers, we need to look back through the decades.Continue reading How low are record-low mortgage rates? Really low!