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Keith Kyle - Vista Sotheby's International

Historical Interest Rates since 1972

August 13, 2018 by Keith Kyle

Many Torrance CA buyers are concerned with interest rates rising with the Fed making it clear that rates will slowly increats.  That’s certainly a valid concern for potential Torrance homebuyers as a higher interest rate means a higher monthly payment which most often means a lower priced home.  Taken in historical standpoint the current rates are dramatically lower than at just about any other time.  The chart below shows the interest rate on conventional and conforming 30 year fixed rate mortgages.  As we’ll see we’ve basically seen rates drop consistently since the high water mark of 16.3% in 1981.  It certainly makes todays current rate in the mid 4% range seem pretty enticing.

Filed Under: Home Prices, Torrance Real Estate, Torrance real estate trends Tagged With: historical interest rates, homes for sale in torrance, interest rates, torrance homes

Trackbacks

  1. As Interest Rates Rise….how Does it Impact Torrance Home Buyers? says:
    August 13, 2018 at 8:43 pm

    […] prospective home buyers are concerned with rising interest rates.  While the Torrance interest rates in 2018 are still historically very low, the concern is justified.  Higher interest rates mean reduced buying power.  With every slight […]

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