Savvy Homebuyers Master Mortgage Rate Lock vs Float
Real-World Examples and Data
Recent data shows that mortgage rates have been fluctuating due to economic uncertainties, with average rates varying significantly over short periods4. For instance, a 0.25% increase on a $300,000 mortgage could increase your monthly payment by approximately $44, or about $15,840 over a 30-year loan5. This illustrates the potential impact of rate changes and underscores the importance of making an informed decision.