Do you remember how high mortgage rates were in the 1980’s? Let us refresh your memory! According to FRED Economic Research, the mortgage interest rates in 1981 were around 18.5%. And we all know that after the 2007 recession, that the housing market took a huge crash and dramatically affected us all. But the good news remains that since then the market has recovered and has continued to flourish! As of their last report, the current mortgage interest rate is in the mid 3% range.
Now you may have heard mortgage lenders continue to say that this is the lowest rates have ever been and then you think to yourself, didn’t they say that last year? And as a matter of fact, yes, they probably did. Obviously, rates are subject to change based on a number of factors - credit score, location, home price, loan amount, loan term, down payment, and so much more - but this just goes to show exactly how incredible the market has been. The chart below is featured from FRED Economic Research. It shows the 30-Year Fixed Rate Mortgage in the United States from 1980 to current times. Look at that drop, how crazy! In just 40 years, mortgage interest rates have dropped almost 15%! What an incredible cost savings!
But let me guess, you’ve also probably heard mortgage lenders claim that rates just cannot stay this low due to the future of the economy. Because of this, we wanted to mention the mortgage lender that we love and trust. We want to make sure that you have the opportunity to take advantage of these incredibly low rates and let us help get you into your dream home! No one can predict the future, so why test your luck?
Treadstone Residential Mortgage Lender is our go-to company. Founded in 2003 as a local West Michigan mortgage company, their mission is “to help people buy homes with less hassle and more enjoyment by developing genuine relationships, applying a team-based approach to customer care, and providing sound advice.” And we couldn’t support this statement more. Treadstone is reliable and professional, all while doing the best work possible. They offer 8 different kinds of loans, know that every borrowing situation is different and has a different “best option”. Kevin Polakovich, one of the founders of Treadstone, spoke about their dedication to relators and clients alike on January 30th at our Tax Return Seminar at Founders Brewing Co. He also spoke about those incredible low mortgage interest rates and how you should not wait to buy that dream home! Take advantage of these low rates today and contact Treadstone at (616) 328-5157 for your options. Then contact us at (616) 893-6478 so we can find you your dream home here in West Michigan!
Check out more information on the rate history here: https://fred.stlouisfed.org/graph/?g=NUh
And check out more information on Treadstone here: https://www.treadstonemortgage.com/