Gone Forever - the 3% Interest on a Thirty Year Mortgage Loan is a Thing of the Past!

It just got a little more expensive to buy a home. You can forget the 3% interest rate on a 30 year mortgage loan – it is gone forever. I have been mentioning this for several months, possibly even as long as a year. It was never a secret, experts have been warning that the interest rate on home loans would go up and they did. In addition to higher prices for homes, now buyer will have to pay more for a loan. The current interest rate on a 30 year loan is up to around 4.48%, down slightly from around 4.61% a month ago and up from around 3.5% in the beginning of 2013.