Some Highlights:
- The interest rate you secure for your mortgage greatly influences your monthly housing costs. It's not always the price of the home.
- In the 1980's, 30-year fixed mortgage rates averaged in the high 12's making the monthly principal and interest payment over $2,000. This is based on a $200,000 loan.
- Interest rates are still at historic lows; this is a great time lock in your housing cost and protect yourself from increasing rents, or refinance your current mortgage