Tag Archives: Low Mortgage Rates Making Big Difference

An infographic from Loans.org shows just how big a difference mortgage rates can make to lowering home buyers’ and home owners’ monthly payments over the years. For example, the infographic shows that a home owner in 2013 could pay $1,347.13 a month for a four-bedroom, three-bath home. But just four years earlier, in 2008, the average interest rate was nearly double at 6.03 percent and a monthly payment for that same size home averaged $1,503.70. The infographic shows mortgage rates from the 1980s to today and mixes in pop culture […]