Amazingly 30-year fixed rate mortgages on Hilton Head Island and Bluffton, South Carolina, have been hovering around 4.8%. Our local rates track with the national averages. The chart above displays the historic proportion of today’s rock bottom interest rates with graphic clarity. MIND-BLOWING. The interest rates of the last 16 months are below all previous records tracked by Freddie Mac. Mortgage money has never been “cheaper” at a time when home prices couldn’t be more attractive.

These history-making low rates combined with an almost unprecedented drop in home values have made the monthly cost of owning a home today, according to the National Association of Realtors, the lowest since records began in 1970.

And there is no place for current…

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