Mortgage rates moved higher over the past two weeks. Here's what it actually costs a Kentucky homebuyer.
Freddie Mac's 30-year average went from 6.66% on August 27 to 6.76% on September 10 - one tenth of one percent. On a $250,000 loan that's about $17 more per month. A real increase, but not a reason to stop looking for a house.
Before you write an offer: re-run your payment with real property taxes and an insurance quote, refresh a pre-approval older than a few weeks, compare FHA, VA, USDA, KHC and conventional (the lowest rate is not always the cheapest loan), and ask about locking once you have an accepted contract.
Watch the 2-minute breakdown: https://youtu.be/nkD8aUEnyfg
Buying anywhere in Kentucky? Call or text 502-905-3708.
Joel Lobb, EVO Mortgage. NMLS 57916. Equal Housing Lender. Kentucky mortgage loans only. Not a commitment to lend.
