Interest Rates: The Difference A Year Makes
Rates on 30-year fixed-rate mortgages guaranteed by Freddie Mac fell this week to 4.82 percent, staying below 5 percent for those with good credit scores. Just a year ago, the same rate was at 5.88 percent. To put this one percentage point difference in perspective, we compare the payments on a one-bedroom loft in Capitol Hill at today's interest rates versus what they would’ve been one year ago.