3% Mortgage Interest Rates are going away

As we say good bye to all but free money with interest rates below 3%, we have to start getting use to the rates going up into the 4% range and maybe higher.  But let's remember the past.

Prior to 2003, higher mortgage interest rates were the norm. In the early 1970s, rates hovered in the 7-percent range and spiked up above 9 percent in late 1975, late 1976 and most of 1978. At the end of the decade and throughout the 1980s, mortgage interest rates rarely dipped lower than 10 percent.
In the early 1980s, mortgage interest rates brushed the stratospheric highs of 18 percent and even 19 percent. Imagine trying to get a home loan with an interest rate of 18 percent.

During the 1990s, mortgage interest rates ranged from around 7 percent to roughly 9 percent for many years.
Source: Bankrate.com