02/04/2021
TBT - 1988: Panamanian General Manuel Noriega indicted by US federal grand jury for drug trafficking and racketeering.
Speaking of highs and lows, in February of 1988, if you didn't have "Noriega money" to pay cash for your new home, your mortgage rate would have averaged 10.03%. Today's average 30 year, fixed-rate mortgage is 3.11%. For the sake of comparison, the approximate payment on a $250,000 home at 10% is $2,183 and at 3% is $1,100. This is what we call "cheap money." Don't wait for rates to climb - get in now, while the gettin' is good! Call text or chat if you want to discuss your real estate needs. Have a great Thursday, folks!