At the start of 2019 mortgage rates are on average pretty low. Mortgage rates had climbed to an average of 5.0% near the end of 2018, but in the last month had fallen to 4.5%. The difference in half a percentage could save different borrowers different amounts of money depending on the size of the loan. For a the average borrower it would save them about 72 dollars per month according to a study conducted by Nationwide.
- Within the past month, mortgage rates have dropped from 5 percent to 4.5 percent.
- Lower interest rates allow people to buy more expensive homes, because they are spending less money paying off interest.
- Homebuyers are more likely to benefit from lower interest rates in high-end parts of the country.
“Stock market volatility, global trade worries and the government shutdown are pushing rates down to their lowest levels since August.”