Homeowners Face Average 73 Percent Higher Costs If They Relocate: Report

Date:

A ‘For Sale’ sign near a home in Austin, Texas. Brandon Bell/Getty ImagesWhile mortgage interest rates are now hovering around 6.19 percent for a 30-year fixed loan, according to Freddie Mac, many homeowners across the United States are still locked into their homes because they fear that even these lower rates will still cause their monthly payments to rise drastically.A Dec. 9 report from Realtor.com indicates the average mortgage holder is paying about $1,300 per month in principal and interest charges. However, if they were to sell that home and purchase another, the monthly payment could skyrocket by more than 73 percent, or $1,000.

spot_imgspot_imgspot_img

Share post:

More like this
Related

FDA Expands Approval of GSKs Respiratory Syncytial Virus Vaccine

Adults as young as 18 can now receive the...

US Growth Nearly Stalls as 4th Quarter GDP Revised to 0.7 Percent

The 43-day government shutdown weighed heavily on fourth-quarter economic...

When Stock Markets Get Shaken, It Can Pay for Investors to Be Patient

Pedestrians mill about outside the New York Stock Exchange...

Cuba to Release 51 Prisoners in Move Linked to the Vatican

Police guard a street on the second anniversary of...