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We saw mortgage interest rate change direction and start moving up in the last 30 days. The recent increase will cost new borrowers an additional $7.34 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 3.73% as of this week. Last month at this time, they were sitting at 3.60%. The slow and steady decline since November 2018 has halted for now.<\/p>\n
Recent forecasts for changes in interest rates have been all over the board. Quite frankly, a good case can be made for rates staying relatively flat in the short-term. Regardless of any movement we see, we will still be considerably lower than the long-term average mortgage interest rates in our country.<\/p>\n
While it\u2019s hard to believe in today\u2019s environment, the long-term average is still over 8%. When you compare monthly payments at today\u2019s rates versus the long-term average, homeowners are currently saving about $273 per month per $100,000 borrowed. That makes mortgaging today\u2019s homes considerably more affordable than historic averages.<\/p>\n
Even with the recent rise, mortgages are less expensive now than they were last year at this time. The average decrease in monthly payments per $100,000 borrowed with a 30-year fixed price mortgage is around $68 per month. If you max out a conventional mortgage, that means your monthly payment will be around $333 less per month now than it would have been in September of 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"
We saw mortgage interest rate change direction and start moving up in the last 30 days. The recent increase will cost new borrowers an additional $7.34 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 3.73% as of this week. Last month at this time, they were sitting […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,26,3,1],"tags":[12,13,16,14,15,20,19,17],"class_list":["post-1321","post","type-post","status-publish","format-standard","hentry","category-home-buying","category-home-selling","category-mortgages","category-real-estate","tag-home-buying","tag-home-selling","tag-manatee-county","tag-mortgage","tag-real-estate","tag-real-estate-agent","tag-realtor","tag-sarasota-county"],"_links":{"self":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/1321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/comments?post=1321"}],"version-history":[{"count":2,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/1321\/revisions"}],"predecessor-version":[{"id":1325,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/1321\/revisions\/1325"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=1321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=1321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=1321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}