The Truth About Mortgage

I’ve seen a lot of articles lately talking about how you can still get a sub-6% mortgage rate, despite the recent uptick. We had 5% mortgage rates as recently as early March, but then they climbed back above 6.5% due to the conflict with Iran. They’ve kind of been stuck there ever since and even… 

Mortgage rates got a little boost today thanks to an apparent peace deal between the U.S. and Iran. However, the 30-year fixed remains well above the average seen before the war began a few months ago. At last glance, it was still priced about 5/8 higher than where it stood at the very end of… 

A new Reuters poll conducted between June 1st and June 11th revealed that housing experts expect elevated mortgage rates through at least 2028. The survey found that the median forecast for the popular loan type is 6.4% for the third quarter of this year and 6.3% for the fourth quarter. So those looking for any… 

It feels like we’re repeating history, and not the pleasant kind. Inflation readings came in at their worst since 2023, which incidentally was when the 30-year fixed seemed to peak this cycle around 8%. But this time around, mortgage rates are holding steady, seemingly undeterred by the rapid price increases. As for why, it might… 

With mortgage rates above 6.50% these days, the average home buyer today actually pays more in interest than the purchase price. For example, a $400,000 home with 20% down and a 6.5% interest rate equates to $408,000 in total interest over 30 years. And that’s if you put down 20%. Many home buyers do not…