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Are Mortgage Interest Rates Good or Bad right now? Here is the Answer!

Are Mortgage Rates Good or Bad right now?

Information as of March 17th, 2022.

There is a lot of information out there about Mortgage Interest rates, and everyone seems to have their own opinion about whether current rates are Good or Bad.

Have you spoken with someone who bought a home in the 1980s? They probably paid around 14% interest back then, and might think that any rate in the “single digits” is excellent!

On the other hand, many people who bought (or refinanced) a home for the first time in the past 2 years probably think that anything over 3.5% is a “Bad” rate, or “too high”. 

So that begs the question: Are rates Good or Bad right now?

The chart below shows the historic Mortgage Interest rates over the past 50 Years. Even with current Interest Rates of around 4%, they are still better than they were for 44 of the past 50 years!  Yes, Interest Rates are still very Good!

Are rates Up or Down?

Despite a small decrease in rates 2 weeks ago –  which has since reversed itself –  we expect rates to continue to rise as inflation broadens and shortages impact the economy. However, uncertainty about the war in Ukraine is driving upward rate volatility that likely will continue for a little while.


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