Mortgage rates

A drop in mortgage rates and seasonal tailwinds boosted mortgage rate lock activity by 32% in January, ending a 9-month streak of declines.

Home loan borrowers have seen a steep rise in their EMIs due to repo rate rise of 2.5% in last one year. A home loan taken at 7% for 20 years would have seen an increase in total interest outgo by 136% if the tenure increased to 30 years and then EMI would have gone up to accommodate the impact of the overall repo rate hike taking the interest rate to 9.5%.

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https://wtop.com/business-finance/2023/06/tough-times-for-dc-home-buyers-but-great-for-sellers/

Ever wonder how home ownership became such a challenge in today's market? Join us as we dive into a brief history of high mortgage interest rates and their impact on home buying and selling! Discover what Montana realtors have to say about these trends and how they can help you navigate the current market. Get realtor tips and learn more at Wrecked & Refined.

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