Rates hit 4-year high, add more to each month on typical home purchase

Mortgage rates have hit their highest level in four years as they’ve increased for the eighth week in a row. The average 30-year rate this week is 4.43 percent nationwide, according to mortgage giant Freddie Mac. At the beginning of the year, the rate was 3.95 percent. “The 30-year rate has been on a tear in 2018,” said Len Kiefer, deputy chief economist at Freddie Mac. That half-point increase in the past two months means a consumer buying a $200,000 home with 20 percent down will pay about $50 more a month today compared with January.


Source: Daily Republic

Related posts