It’s looking like a pretty good time to buy a home, if you’re in the market for one. Interest rates have been near historic lows for many years now, but have started inching up. The national average mortgage interest rate is interesting, but the actual rate you’re quoted where you live might be a bit different.
Specifically, mortgage rates for 30-year loans hit a nearly three-year high of 4.32% in December, and were recently around 4.27%. The Fed has begun raising interest rates and some experts are suggesting that mortgage rates could exceed 6% by 2020.