Our favorite lender has again provided us with some insight into the current mortgage interest rate gain.  Below is his take on what is happening.  If you want to compare these interest rate charts to what is happening in the real estate market, click on one of the pictures and it will take you to our Market Insider site, where you can get updated on the housing market in your particular zip code!  And if you want to get in touch with the lender who provided these charts, just let us know!

Most people are visual people and simply telling someone what is going one seldom sends the message with the impact needed. I am sending you some charts so you are better able to show your sphere of influence and data base what the current rate market is doing.

Here are three charts for rates over different periods of time:

10 year chart

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This shows how low rates have gotten but it also shows that rates are really not this low generally and we may be getting back to a more normal rate climate around 6%

For the first ten years I was in the mortgage business normal was 8% and 7%

2010 to date

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This shows how steep the rates have fallen in the last three years and how steep they are starting to rise in the last few months. Quite a big difference over a short period of time. Rates generally move much slower over time and this shows how volatile the markets have been recently.

Year to date

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This is the Ah Ha one for me! This shows how much we have seen rates increase in such a short period of time. This one really drives home the fact that we are not in the threes and not going back.