Conforming land in October of 1990 rates were 9.91% for a 15 year loan and 10.24% for a 30 year rate.
Today’s Mortgage Rates
30-Year Fixed: 4.500% – APR 4.595%
15-Year Fixed: 3.875% – APR 4.057%
7-Year ARM: 4.125% – APR 4.829%
*These rates are a snapshot from Wells Fargo.*The National Home Builders Association provides a valuable resource to those people who are considering building a home.
While interest rates have started to climb back up from 2 or so years ago, the current market conditions still are very favorable for those who are seriously considering a major decision such as building their own dream home.
It might be time to start taking notes when you hear people say: “now is the time to build” or “you better act now before it’s too late!”