Mortgage rates jumped to 6.95% (Freddie Mac 30-year average, Sept 17), up from 5.98% in February. On a $250,000 loan that's about $159 more a month.
But zoom out: since 1971 the average 30-year rate is about 7.7%. Rates are higher than February, not high by history.
Watch 55 years of rates in 38 seconds: https://youtu.be/c1n6cgU_xqI
Buying in Kentucky? Call/Text 502-905-3708 for your real payment. Joel Lobb, EVO Mortgage. NMLS #57916, Company NMLS #1738461. Equal Housing Lender. National averages for information only; P&I on $250K 30-yr fixed. Not a commitment to lend.
