Mortgage Rates JUMP to 5.25%: Highest Rates Since 2009

The average 30yr fixed rate mortgage in the US skyrocketed to 5.25% on 4/11/22!!! That’s approximately two percentage points higher than one year ago for the average mortgage interest rate. We haven’t seen mortgage rates this high since 2009! Here’s how it effects homebuyers:

Median priced home in the US ($400k with 20% down): P&I
1 yr ago: $1,400/mo (3.29%)
Now: $1,767/mo (5.25%)
Diff: +$367/mo

Median priced home in CA ($771k with 20% down): P&I
1 yr ago: $2,698/mo (3.29%)
Now: $3,406/mo (5.25%)
Diff: +$708/mo

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 5.25% for the current mortgage rates (at the time of filming this video). That’s up ~2% YTD for the average 30yr fixed rate mortgage.

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

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Видео Mortgage Rates JUMP to 5.25%: Highest Rates Since 2009 канала Jason Walter