![The Cost Across Time [INFOGRAPHIC] | Simplifying The Market](https://static.wixstatic.com/media/9b78c6_259454da48bf4f9caaf08f8c7729697b~mv2.jpg/v1/fill/w_549,h_300,al_c,q_90/9b78c6_259454da48bf4f9caaf08f8c7729697b~mv2.jpg)
![The Cost Across Time [INFOGRAPHIC] | Simplifying The Market](https://static.wixstatic.com/media/9b78c6_362b6f621f7e4795a85a8566f4e922d1~mv2.jpg/v1/fill/w_1000,h_773,al_c,q_90,usm_0.66_1.00_0.01/9b78c6_362b6f621f7e4795a85a8566f4e922d1~mv2.jpg)
Some Highlights:
With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!
According to Freddie Mac, rates are projected to increase to 3.9% by this time next year.
The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life of your loan.
Maybe it’s time to lock in now, while rates are still historically low.
Source: KCM New feed