The interest rate you secure for your mortgage has a big influence on your monthly housing costs. Below, you can see the average mortgage rate and payment by decade compared to 2016. 

As you can see, the 30 year fixed mortgage rates in the 1980s averaged in the high 12s, making the monthly principal and interest payment more than $2,000. Today, interest rates remain at historic lows. Now is a great time to lock in your housing costs by getting approved for a mortgage and protecting yourself from rising rents, or to refinance your current mortgage. If you are considering buying your dream home in Greenwood and would like more information about how to take advantage of today's mortgage rates, contact us at (864)341-7774 or email us at lakegreenwoodproperty@gmail.com to explore what the Greenwood area has to offer and to learn about the Greenwood real estate market.