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![\"Mortgages](\"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2018\/12\/DecMortHome-1024x683.jpg\")
<\/p>\nWe saw mortgage rates drop slightly last month. The most recent decrease will save new borrowers an additional $3.03 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 4.81% at the end of November (and are even a little lower as I am writing this). At the end of October, they were sitting at 4.86%. We are continuing to see a bit of a zig zag approach to the market with a few months of rising rates followed by a month or two of decline.<\/p>\n
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We do expect interest rates to generally rise over the next twelve months. Even so, 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 almost $215 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 $48 per month. If you max out a conventional mortgage, that means your monthly payment will be around $219 more per month now than it would have been on January 1st.<\/p>\n","protected":false},"excerpt":{"rendered":"
We saw mortgage rates drop slightly last month. The most recent decrease will save new borrowers an additional $3.03 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 4.81% at the end of November (and are even a little lower as I am writing this). At the end […]<\/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":[16,14,15,20,19,17],"class_list":["post-764","post","type-post","status-publish","format-standard","hentry","category-mortgages","category-real-estate","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\/764","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=764"}],"version-history":[{"count":1,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/764\/revisions"}],"predecessor-version":[{"id":766,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/764\/revisions\/766"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}