30-year mortgage rates are on an upward trend as the economy and employment improve, the Fed is turning its attention to inflation. Longer-term interest rates have increased in anticipation of these changes.
For the past week ending Thursday Jan 27th 2022, 30-year mortgage rates were down slightly at 1b to 3.73% resulting in a monthly payment of $462 for a $100,000 loan. 33% of the payment goes to amortization, tax benefit is estimated to be 20%. The net cost to borrow is $217 or $7.24 a day.
