The chart above shows 30 year conventional mortgage rates from 1970 – 2011.
Click on real estate mortgage chart to enlarge.
So which direction will Boston real estate mortgage rates go in 2011? Historically speaking, rates really have very, very little “down” left in them. One would think that it’s almost inevitable that mortgage interest rates will go up. How soon? Hard to say.
So what do you think is the bigger risk to potential Boston condo buyers right now.
1) Boston condo prices will fall in the future if they buy now.
2) Interest rates will rise in the future if they wait to buy and then their monthly payment will buy less of a home .
Source:Chart showing 30-year fixed rate mortgage rates over past 40 years was originally published by The St. Louis Federal Reserve, which has a website chock-full of useful and fun economic data, charts, graphs and statistics.