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Happy Thanksgiving!
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The 1% Difference
Florida Realtors has put together the infographic below that shows how monthly payments for a home purchased at the median sale price in Florida change with a 1% change in mortgage interest rates. As the swings in mortgage rate changes have narrowed in recent months, the upside of waiting for a potential mortgage rate drop has likely shrunk as well.
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Mortgage Rate Update
Mortgage interest rates have trended slightly down over the last 30 days. The recent change will save new borrowers about $5 per month for every $100,000 borrowed. Average U.S. interest rates for 30-year fixed rate mortgages were at 7.50% as of this week. Last month at this time, they were sitting at 7.57%. Recent forecasts for changes in interest rates remain mixed.
Florida Realtors has put together the list of top apps for both buyers and sellers in the infographic below. I am partial to Let’s Decorate!, but decorating is always the most fun activity in any new home.
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Happy Halloween!
