Musings on Food, Fun & Real Estate in the Mother Lode
According to this article on msn.com today, fixed mortgage rates fell to a new record low of 3.89 percent. Low interest rates coupled with low prices have made homes very affordable here in Tuolumne County.
When interest rates go back up, so will the cost of owning a home. The graph below shows exactly what a difference interest rates make in monthly mortgage payments.