Altius Mortgage Featured On ABC 4 News

Altius Mortgage’s Dave Monson was recently interviewed by Brian Carlson with ABC 4 News about the recent spike in home mortgage rates. If you are in the market, or you have been sitting on the fence now is the time to buy.

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HOME MORTGAGE RATES SPIKING

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This last move in the last two months is the sharpest increase that I’ve seen is 15 years in the mortgage industry.

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For example, the average rate in a 30 year fixed mortgage is now at 4.51%, a two year high. But just more than six months ago that rate was just 3.31%. That may not seem like much of a difference, but look at what happens over 30 years. Take a full mortgage on a $200,000 loan. At that historically low rate just months ago it would’ve cost you only $877 a month. At the new rate now, it jumps to $1,015 a month, a difference of $138. That adds up quickly, over 30 years that’s an additional $49,517 on that mortgage.