Mortgage Rates Dropped – What Does That Mean for You?

Mortgage Rates Dropped – What Does That Mean for You?



In just two months, rates dropped from 7.125% to 6.5%, and that shift could be saving you $1,435.80 per year—or $43,074.00 over the life of the loan.

Example:

Home Price: $400,000

Monthly Payment at 7.125%: $3,390.09

Monthly Payment at 6.5%: $3,270.44

That’s more money in your pocket each month. Thinking about buying? Now’s the time to lock in a lower rate before demand spikes and home prices rise.