I remember my first mortgage in the 1990's and the rate was around 10 percent. Jump forward to 2005 and home buyers were thrilled with rates as low as 6%. Present day is December 2012 and a month ago we saw the lowest rates since 1971.
- Current 30 year fixed rate 3.35%
- Current 15 year fixed rate 2.65%
Todays low mortgage interest rates allow home buyers to get more for their money. Low mortgage rates are also stimulating the real estate sales. Columbia SC home sales are up 15% over the same period in 2011.
Interest rates vary depending on credit score, loan type and loan size. Contact a South Carolina loan originator for more information and a quote.
Written by Tonya Graves - Columbia SC real estate sales