{"id":18,"date":"2018-02-22T14:44:13","date_gmt":"2018-02-22T14:44:13","guid":{"rendered":"http:\/\/www.bridgettbyzewski.com\/real-estate-blog\/?p=18"},"modified":"2018-02-24T12:58:24","modified_gmt":"2018-02-24T12:58:24","slug":"the-real-cost-of-rising-mortgage-rates","status":"publish","type":"post","link":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/2018\/02\/22\/the-real-cost-of-rising-mortgage-rates\/","title":{"rendered":"The Real Cost of Rising Mortgage Rates"},"content":{"rendered":"<p>In the past two months, we have seen average mortgage rates jump up from 4.09% to 4.51%. That may not sound like much, but it really makes a difference. For every $100,000 you borrow today, you will be paying almost $25 more per month in interest than you would have been just 60 days ago.<br \/>\n<!--more--><\/p>\n<figure id=\"attachment_19\" aria-describedby=\"caption-attachment-19\" style=\"width: 300px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-19\" src=\"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2018\/02\/interestrates-300x200.jpg\" alt=\"mortgage rates are going up\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2018\/02\/interestrates-300x200.jpg 300w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2018\/02\/interestrates-768x512.jpg 768w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2018\/02\/interestrates-1024x683.jpg 1024w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2018\/02\/interestrates.jpg 1200w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-19\" class=\"wp-caption-text\">Mortgage Rates are Rising!<\/figcaption><\/figure>\n<p>It isn\u2019t likely to stop here either. Most experts expect mortgage rates to continue to increase in the coming year. My advice to you is that if you are considering buying a home with a mortgage, you should move quickly. While we should expect home prices to soften a bit due to increasing mortgage rates, it would take an almost 5% decrease in the purchase price of your home just to get back to the same monthly payment you would have seen two months ago.<\/p>\n<p>That appears very unlikely, with experts like CoreLogic still predicting a 6% rise in Florida home prices in the next year. Personally, I think rising mortgage rates will keep us from seeing the full 6% home price appreciation over the year, but I still believe it\u2019s better to buy now than later.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the past two months, we have seen average mortgage rates jump up from 4.09% to 4.51%. That may not sound like much, but it really makes a difference. For every $100,000 you borrow today, you will be paying almost $25 more per month in interest than you would have been just 60 days ago.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,1],"tags":[7,12,13,9,16,14,15,6,17],"class_list":["post-18","post","type-post","status-publish","format-standard","hentry","category-mortgages","category-real-estate","tag-bradenton","tag-home-buying","tag-home-selling","tag-lakewood-ranch","tag-manatee-county","tag-mortgage","tag-real-estate","tag-sarasota","tag-sarasota-county"],"_links":{"self":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/18","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=18"}],"version-history":[{"count":5,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/18\/revisions"}],"predecessor-version":[{"id":45,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/18\/revisions\/45"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=18"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=18"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=18"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}