{"id":16691,"date":"2011-08-19T10:11:57","date_gmt":"2011-08-19T17:11:57","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=16691"},"modified":"2011-08-19T10:11:57","modified_gmt":"2011-08-19T17:11:57","slug":"friday-flashback-the-era-of-record-low-rates-is-over","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/","title":{"rendered":"Friday Flashback: “The era of record-low rates is over.”"},"content":{"rendered":"

Heh, remember this piece from April of last year? Homebuyers scramble as mortgage rates jump<\/a><\/p>\n

The era of record-low mortgage rates is over.<\/p>\n

The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market \u2014 a threat to the fragile recovery in the housing market.
\n…
\n\u201cWe are seeing some panic among potential buyers who have not found houses yet,\u201d said Craig Strent, co-founder of Apex Home Loans in Bethesda, Md. \u201cThey\u2019re saying: Man, I should have found a house three weeks ago or last month when rates are lower.\u201d<\/p><\/blockquote>\n

It was funny then<\/a>, and it’s even more funny now, as rates hit yet another new all-time low<\/a>, a year and a half later.<\/p>\n

Here’s an updated chart of 30-year rates, going all the way back to 1971:<\/p>\n

\"Mortgage<\/a><\/p>\n

Again, notice that even when rates go up two entire percentage points, they will basically be about where they were during the hottest years of the housing bubble, when real estate salespeople were crowing about how amazing rates were, and what a great time it was to buy because of it.<\/p>\n

Of course, at this point I wouldn’t expect rates to rise anytime soon. Demand for borrowed money is in the crapper and probably will be for a while.<\/p>\n

The purpose of our Friday Flashback series<\/a> is to remind people why it’s never a good idea to base your home purchase decisions on the word of someone with a vested financial interest in selling as many homes as possible for as much as possible, no matter what. If you’ve got a good example of local home salespeople or other industry shills on record making fools of themselves in the years before the bubble burst, shoot me an email<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"

Heh, remember this piece from April of last year? Homebuyers scramble as mortgage rates jump The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[613,198],"tags":[802,638,223],"coauthors":[],"class_list":["post-16691","post","type-post","status-publish","format-standard","hentry","category-national-news","category-news","tag-802","tag-friday-flashback","tag-interest-rates"],"yoast_head":"\nFriday Flashback: "The era of record-low rates is over." \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Friday Flashback: "The era of record-low rates is over." \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Heh, remember this piece from April of last year? Homebuyers scramble as mortgage rates jump The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are...\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08.png\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/\",\"name\":\"Friday Flashback: \\\"The era of record-low rates is over.\\\" \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08-600x436.png\",\"datePublished\":\"2011-08-19T17:11:57+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08.png\",\"width\":\"911\",\"height\":\"662\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Friday Flashback: “The era of record-low rates is over.”\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer \/ internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.\",\"sameAs\":[\"http:\/\/SeattleBubble.com\/\",\"http:\/\/facebook.com\/is.totally.pointless\",\"https:\/\/x.com\/The_Tim\"],\"url\":\"https:\/\/seattlebubble.com\/blog\/author\/timothyellis\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Friday Flashback: \"The era of record-low rates is over.\" \u2022 Seattle Bubble","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/","twitter_card":"summary_large_image","twitter_title":"Friday Flashback: \"The era of record-low rates is over.\" \u2022 Seattle Bubble","twitter_description":"Heh, remember this piece from April of last year? Homebuyers scramble as mortgage rates jump The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are...","twitter_image":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08.png","twitter_creator":"@The_Tim","twitter_site":"@SeattleBubble","twitter_misc":{"Written by":"The Tim","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/","url":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/","name":"Friday Flashback: \"The era of record-low rates is over.\" \u2022 Seattle Bubble","isPartOf":{"@id":"https:\/\/seattlebubble.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#primaryimage"},"image":{"@id":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#primaryimage"},"thumbnailUrl":"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08-600x436.png","datePublished":"2011-08-19T17:11:57+00:00","author":{"@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f"},"breadcrumb":{"@id":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#primaryimage","url":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08.png","contentUrl":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/08\/interest-rates-40yr_2011-08.png","width":"911","height":"662"},{"@type":"BreadcrumbList","@id":"https:\/\/seattlebubble.com\/blog\/2011\/08\/19\/friday-flashback-the-era-of-record-low-rates-is-over\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/seattlebubble.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Friday Flashback: “The era of record-low rates is over.”"}]},{"@type":"WebSite","@id":"https:\/\/seattlebubble.com\/blog\/#website","url":"https:\/\/seattlebubble.com\/blog\/","name":"Seattle Bubble","description":"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f","name":"The Tim","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70","url":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","caption":"The Tim"},"description":"Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer \/ internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.","sameAs":["http:\/\/SeattleBubble.com\/","http:\/\/facebook.com\/is.totally.pointless","https:\/\/x.com\/The_Tim"],"url":"https:\/\/seattlebubble.com\/blog\/author\/timothyellis\/"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6wh0F-4ld","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/16691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/comments?post=16691"}],"version-history":[{"count":0,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/16691\/revisions"}],"wp:attachment":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/media?parent=16691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/categories?post=16691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/tags?post=16691"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/coauthors?post=16691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}