What's happening with Interest rates?

The 30 year fixed rate interest rates have been below 5% for 27 consecutive weeks, according to FreddieMac web site. That is absolutely incredible.

I took a peak at the History of the 30 year mortgage rates and found out this is the lowest they have been in the history of FreddieMac tracking.

Back in 1982 the rates were 17.2% for a 30 year fixed…..who could afford a mortgage with that rate today?

What does that mean for us today? With historical low interest rates and low home prices, makes home ownership is possible today.

Check out the link yourself http://www.freddiemac.com/pmms