Below is a chart of FannieMae mortgage interest rates since FannieMae was founded in 1971. ALL of the interest rates in blue are above 5% (highest ever was 18.45% in October 1981 - yes, for a 30-year mortgage!) Mortgage rates dipped below 5% for THE FIRST TIME in April 2009. That means that, for over 38 YEARS, mortgage rates were above 5%!
Now, we are in the 3.5 - 4.0% range! THAT IS INCREDIBLY LOW! If you are waiting for rates to go lower, STOP DREAMING! Talk to a professional mortgage agent today. Get started as soon as possible.
Just look at that chart. There is a lot of blue and very little green. This is as good as it gets!