If you purchased a home in the 80’s it likely included a double-digit mortgage interest rate. According to an article on ValuePenguin.com “over the past 48 years, interest rates on the 30-year fixed-rate mortgage have ranged from as high as 18.63% in 1981 to as low as 3.31% in 2012.” You can read the complete article including historical graphs here:
June 2019
Considering a Cash-Out Refinance?
A cash-out refinance provides you access to the increased equity value of your home. With low interest rates this can be an attractive option to many homeowners.