{"id":2673,"date":"2022-10-17T13:58:23","date_gmt":"2022-10-17T17:58:23","guid":{"rendered":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/?p=2673"},"modified":"2022-10-17T13:58:30","modified_gmt":"2022-10-17T17:58:30","slug":"the-upward-climb","status":"publish","type":"post","link":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/2022\/10\/17\/the-upward-climb\/","title":{"rendered":"The Upward Climb"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Mortgage interest rates have risen sharply again over the last 30 days. The recent change will cost new borrowers over $59 per month for every $100,000 borrowed. Average U.S. interest rates for 30-year fixed rate mortgages were at 6.92% as of this week. Last month at this time, they were sitting at 6.02%.<\/p>\n\n\n\n\n\n\n\n

Recent forecasts for changes in interest rates have generally been slightly up. In fact, we are now within striking distance of rates being higher than the historical average (7.76%) mortgage interest rates in our country.  When you compare monthly payments at today\u2019s rates versus the long-term average, homeowners are currently saving about $57 per month per $100,000 borrowed. That makes mortgaging today\u2019s homes just slightly more affordable than historic averages.<\/p>\n\n\n\n

However, mortgages are significantly more expensive now than they were last year at this time. The average increase in monthly payments per $100,000 borrowed with a 30-year fixed price mortgage is around $233 per month over the last year. If you max out a conventional mortgage, that means your monthly payment will be around $1,500 more per month now than it would have been in October of 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mortgage interest rates have risen sharply again over the last 30 days. The recent change will cost new borrowers over $59 per month for every $100,000 borrowed. Average U.S. interest rates for 30-year fixed rate mortgages were at 6.92% as of this week. Last month at this time, they were sitting at 6.02%.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,31,26,1],"tags":[7,12,13,9,16,15,20,19,6,17],"class_list":["post-2673","post","type-post","status-publish","format-standard","hentry","category-home-buying","category-home-prices","category-home-selling","category-real-estate","tag-bradenton","tag-home-buying","tag-home-selling","tag-lakewood-ranch","tag-manatee-county","tag-real-estate","tag-real-estate-agent","tag-realtor","tag-sarasota","tag-sarasota-county"],"_links":{"self":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/2673","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=2673"}],"version-history":[{"count":1,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/2673\/revisions"}],"predecessor-version":[{"id":2674,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/2673\/revisions\/2674"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=2673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=2673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=2673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}