If you purchased a home in the 80’s it likely included a double-digit mortgage interest rate. According to an article on ValuePenguin.com “over the past 48 years, interest rates on the 30-year fixed-rate mortgage have ranged from as high as 18.63% in 1981 to as low as 3.31% in 2012.”  You can read the complete article including historical graphs here:

Historical Mortgage Rates: Averages and Trends from the 1970s to 2018
https://www.valuepenguin.com/mortgages/historical-mortgage-rates#nogo

Seems unfathomable that people had mortgage rates exceeding 10% in light of the recent decade of rates below 6%. It is worth exploring what the projections are for the future of mortgage interest rates. Barrons.com published an article written by Jim Grant that provides foundational data on the sources that drive mortgage rates that provides information worth considering, especially if you are considering a home purchase. Read the article here:

Low Interest Rates Forever? Don’t Get Used to That Idea
https://www.barrons.com/articles/jim-grant-low-interest-rates-forever-dont-count-on-it-51559904301

During home buying, selling, and ownership there are times when you need to have documents notarized. The team at Notary Near You makes this process as easy as possible with our mobile notary service.  We come to you where ever you are, and at a time that works in your calendar!

Have questions about how our mobile notary service works, please contact Notary Near You at 877-395-2650 or visit our website NotaryNearYou.com and we will gladly answer any questions you may have.