With a $50,000 downpayment, a year ago it would have cost you $2,774 monthly to pay back principal and interest on the mortgage for a $500,000 house. Today, it would cost you $2,979 monthly. That's $200 dollars a month going down the drain because of rising mortgage rates.
@washingtonpost.comThe average rate on a 30-year fixed-rate mortgage hit 6.95 percent, according to data from Freddie Mac.
It’s the highest that mortgage rates have climbed since President Trump took office.
washingtonpost.com
Mortgage rates edge near 7 percent, highest since Trump took office
The 30-year mortgage rate rose to 6.95 percent, up from 6.26 percent a year ago, according to Freddie Mac.
