How Do Today’s Home Costs Compare To Past Decades

How Do Today’s Home Costs Compare To Past Decades
Sometimes the best way to know whether your current situation is positive, is to look at the history of that situation. So, I decided to take a look at the history of home costs. In other words mortgage rates and payments, over the last few decades.   Here’s how it looks:

Cost-Across-Time To Own A Home

What does this mean for you?

  • With interest rates still hovering around 4% it’s a great time to jump in our way back machine and look at where rates were over the last 40 years.
  • Most economists agree that mortgage rates are projected to rise a full percentage point by this time next year.
  • The direct impact your mortgage rate makes on  your monthly payment is huge!
  • Now is the time to lock in a low rate!
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Troy Stavros
Gables & Gates REALTORS
865-236-1333
troy@gablesandgates.com