In 2003, “The Lord of the Rings” won the Oscar for best movie, Beyonce’s “Crazy in Love” was the best-selling song, and the Tampa Bay Buccaneers beat the Oakland Raiders to win the Super Bowl. Thirty year fixed-rate mortgages were 6 1/4%.
In 1993, it was “Schindler’s List” taking down the Oscar and Mariah Carey selling the most with “Dream Lover.” And local fans turned away from the TV as the Cowboys topped the Bills in the Super Bowl. Thirty year fixed-rate mortgages were 7%.
In 1983, the Oscar went to “Terms of Endearment,” “Every Breath You Take, ” by the Police, was the best-selling song. And, it was happy times here as the Redskins beat the Dolphins in the Super Bowl. Thirty year fixed -rate mortgages, which had touched 18% in 1980′ were now down to a relatively palatable 13 7/8%. Whoa!
So, where are we now in 2013? We’ll have to wait to know who garnered the movie, music, and football awards. However, the one thing we do know is that today’s interest rates are spectacular compared to the past. If you’re interested in buying your first home or moving up to something new, become part of what will eventually be listed as being the best time to buy in history!!