Why Getting A Mortgage Today Is Better Than 40 Years Ago

Some things have increased over the years, but mortgage rates have actually decreased since the 1980s.

Mortgage rates first started being tracked in 1971. Since then, they have ranged from a high of 18.63 percent in the early 80′s to a low of 3.20 percent in late 2013. Currently, rates are still relatively low and for many prospective home buyers, low rates can greatly affect the affordability of a home and the monthly mortgage payment.

However, the low-lows of the 2010s are not expected to hold out for long.

“Federal Reserve has announced plans to begin winding down its stimulus program, which has helped keep rates low while the economy was still fragile, we expect rates will rise above 5 percent in 2014 as the economic recovery gains steam,” said Erin Lantz, director of Zillow Mortgage Marketplace.

Check out more articles on!

This post was created by a user and has not been vetted or endorsed by BuzzFeed's editorial staff. It is also not paid advertising. BuzzFeed Community is a place where anyone can post awesome lists and creations. Learn more or post your buzz!

  Your Reaction?

    Now Buzzing