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Susan Annoura

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Mortgage interest rates are going UP

June 30th, 2013


Last week, the 30 year mortgage interest rate spiked over a half percent to an average 4.46%.  That's the biggest one week increase in 26 years.  15 year loans went up 0.46 and could still be obtained for 3.5%.


For those of you wondering what the effect of 1% difference in interest rate is, the general calculations is this:

An extra percentage point will cost homebuyers with a 30 year, fixed rate mortgage $56/month for every $100,000 they borrow.

Here's the article:
http://money.cnn.com/2013/06/27/real_estate/mortgage-interest/index.html?iid=HP_River




Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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Annoura Realty Group, LLC
9805 Katy Freeway Ste 850, Houston, TX 77024   Get Directions
Phone: (832) 725-7880
Fax: (832) 778-5048
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