Historic Mortgage Rates by the Decade

Interest rates are still at historic lows in New Mexico. As you consider whether to buy your Santa Fe dream home it is helpful to see where the rates have been! From the chart below, you can see how easily affordable buying a home today is.


Some Highlights:

  • The interest rate you secure for your mortgage greatly influences your monthly housing costs.
  • In the 1980s, 30-year fixed mortgage rates averaged in the high 12s making the monthly principal and interest payment over $2,000.
  • Interest rates are still at historic lows; this is a great time lock in your housing cost and protect yourself from increasing rents, or refinance your current mortgage.

Now is the time to buy! From my years of experience I work with some wonderful lenders that can help you get into your Santa Fe home. Let’s get together for coffee and get the ball rolling!

– Bunny

Bunny Terry 505.504.1101

20 Vereda Serena Santa Fe, NM 87508