In 1981 your payment would be $4511/month

30 year fixed rates on mortgages averaged 3.48%.  I researched the highest and lowest rates for 30 year mortgages.  In November 2012 the rate hit an all time low of 3.31% and the highest rate was in October 1981 when they hit 18.44%.

So I thought it was a good idea to compare what that would mean in your monthly payment.  The median price in Chester county is $325,000.  I’ll use property taxes of $5000/year , $1000 year in homeowners insurance and 20% down conventional loan.  Here are the monthly payments:

Current Rates:  $1664/mo

Lowest Rate:  $1640/mo.

Highest Rate:  $4511/mo.  (So insane!)

Now, what can you get for $325,00 in Chester county?  There are 17 homes available priced at $325,000.  5 townhomes and 12 single family homes.  Here is where they are located:


I found this cool chart on the 5000 year history of rates.

Interest rate history

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