10-25-24

 10-25-24:

2024 is now 82% Complete!

Watch out for this:

 QR code scam spreading big: 

Watch out for malicious QR codes in your email, posing as your bank or shipping services. 

Scan one and you’ll land on a fake login page hungry for your real username and password.

Also, beware of QR codes on a restaurant table. They could be overlays!

 Always check the sender’s full email address, watch the URL you’re redirected to, and turn on multifactor authentication for every app and service you can. I know it’s a pain.

Interesting data about Mortgage Interest Rates

Bad News:  Interest rates haven't been this high since 2001. See Chart 1 below.

Good News:  7.73% is the average interest rate over the past 30 years. So current rates are not so bad, based on historical data.

Reality News:  Rates will come down before the Presidential election.

More good news:  Rates have been dropping. See Graph 1 below.

30-year fixed-rate mortgage trends over time

For some perspective on today’s mortgage interest rates, here’s how average 30-year rates have changed from year to year over the past five decades.

Year	Average 30-Year Rate	Year	Average 30-Year Rate	Year	Average 30-Year Rate
1976	8.87%	1992	8.39%	2008	6.03%
1977	8.85%	1993	7.31%	2009	5.04%
1978	9.64%	1994	8.38%	2010	4.69%
1979	11.20%	1995	7.93%	2011	4.45%
1980	13.74%	1996	7.81%	2012	3.66%
1981	16.63%	1997	7.60%	2013	3.98%
1982	16.04%	1998	6.94%	2014	4.17%
1983	13.24%	1999	7.44%	2015	3.85%
1984	13.88%	2000	8.05%	2016	3.65%
1985	12.43%	2001	6.97%	2017	3.99%
1986	10.19%	2002	6.54%	2018	4.54%
1987	10.21%	2003	5.83%	2019	3.94%
1988	10.34%	2004	5.84%	2020	3.10%
1989	10.32%	2005	5.87%	2021	2.96%
1990	10.13%	2006	6.41%	2022	5.34%
1991	9.25%	2007	6.34%	2023	6.81%

Source: Freddie Mac