Interest Rates Up? Not really.

The Mortgage Bankers Association reports that interest rates for a 30-year fixed-rate mortgage hit their highest levels since early December. Interest rates for a fixed-rate mortgage averaged 6.25% last week. Compared to the 8% level of 10 years ago, rates are still extremely favorable for buyers. If you look back even farther, in 1980 the average fixed-rate mortgage approached the 13% mark. I have personally witnessed the rise and fall of interest rates over the past 30 years. I will never forget the home I sold in Griswold in the late 1970's at an interest rate of a whopping 17 ¼%