Ever wonder why everyone’s saying that interest rates are at historic lows?

Mentioning that rates are at “historic lows” means exactly that: rates are at one of their lowest points, ever, for as long as interest rates have existed in the United States.

Check-out this graphical history of the Prime Rate.

But keep in mind: even though people are correct to say that rates are at “historic lows,” it’s important to know that an individual’s interest rate is determined by lending guidelines set by banks. These guidelines are determined by evaluating credit scores, employment history, salary and assets.

Here’s a recent PERL Podcast on interest rates.

If you’re currently gathering information about the in’s and out’s of financing, listen to more PERL Podcasts to better educate yourself about the home buying process.

And for a qualified up-to-the-minute interest rate estimate, contact your Mortgage Consultant.

Related Articles: interest rates, Prime Rate