{"id":370,"date":"2018-06-05T07:23:33","date_gmt":"2018-06-05T11:23:33","guid":{"rendered":"http:\/\/www.bridgettbyzewski.com\/real-estate-blog\/?p=370"},"modified":"2018-06-05T07:23:33","modified_gmt":"2018-06-05T11:23:33","slug":"mortgage-rates-dropped-last-month","status":"publish","type":"post","link":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/2018\/06\/05\/mortgage-rates-dropped-last-month\/","title":{"rendered":"Mortgage Rates Dropped Last Month"},"content":{"rendered":"

We saw a reversal in mortgage rates last month after a rapid rise in April. Average U.S. rates for 30-year fixed rate mortgages are currently at 4.64%. At the end of last month, they were sitting at 4.73%. While it is great to see upward momentum reverse for the moment, the general forecast continues to be for a slow continued rise over the rest of the year.<\/p>\n

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Even with the expected rise over the rest of 2018, we will still be considerably lower than the long-term average mortgage interest rates in our country. 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 over $218 per month per $100,000 borrowed. That makes mortgaging today\u2019s homes considerably more affordable than historic averages.<\/p>\n

That said, mortgages are more expensive now than they were when the year started. The average increase in monthly payments per $100,000 borrowed with a 30-year fixed price mortgage is over $38 per month. If you max out a conventional mortgage, that means your monthly payment will be around $175 more per month now than it would have been on January 1st.<\/p>\n","protected":false},"excerpt":{"rendered":"

We saw a reversal in mortgage rates last month after a rapid rise in April. Average U.S. rates for 30-year fixed rate mortgages are currently at 4.64%. At the end of last month, they were sitting at 4.73%. While it is great to see upward momentum reverse for the moment, the general forecast continues to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,3,1],"tags":[7,12,13,9,16,14,15,20,6,17],"class_list":["post-370","post","type-post","status-publish","format-standard","hentry","category-home-buying","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-real-estate-agent","tag-sarasota","tag-sarasota-county"],"_links":{"self":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/370","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=370"}],"version-history":[{"count":1,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/370\/revisions"}],"predecessor-version":[{"id":372,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/370\/revisions\/372"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}