Sep 4, 2024 - Real Estate
Chart du jour: Mortgage rates and monthly payments
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A single percentage point might not seem like much, but it can save Seattle-area buyers thousands a year on their mortgage payments.
By the numbers: If you bought a median-priced Seattle-area home in July, you'd be paying an estimated $5,144 per month for your mortgage at an 7% interest rate, compared to $4,697 at 6%, per Redfin.
- That's a difference of about $5,400 per year.
The bottom line: It's easy to see why homeowners with those 3% rates won't be moving anytime soon.