This is a YouTube video titled "Perspective on Today’s Interest Rates" featuring Derek McGowan providing an analysis of interest rate trends over the past 30 years, focusing on their impact on mortgage payments. The content is a monologue explaining historical data and recent changes in interest rates as of early 2022.
With interest rates increasing so far this year, I wanted to help put a little bit more perspective behind it. So this chart shows the average 30 year face to additional interest rate across the country for the last 30 years. Back in 1990, a $300,000 loan amount had a $2,600 principal and interest payment. You can see that drops about 400 bucks a month. Each time the interest rates were down by about 2%. Then if you focus on the last 10 years, yes, rates have gone back up.
