World events are conspiring to make it more expensive for you to borrow money to buy a house. Mortgage rates have increased for five consecutive weeks, according to Bankrate data, bringing interest on a 30-year fixed rate loan to 4.44 percent, the highest level in 11 months, while home prices continue to rise due to a lack of available homes.
Lending gets easier for Millennial home buyers Mortgage Rates In 2017 Are Headed Where? The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.