September’s average mortgage rate holds under 3%

Blog Post Image
Real Estate

Mortgage rates change from day to day, so if you're in the market for a new home, it pays to keep track of them. This is what mortgage rates are averaging today:

The average 30-year mortgage rate today is 2.934%. That's a slight decrease from earlier in the week. At today's rate, you’ll pay principal and interest of $417.73 for every $100,000 you borrow. Your total monthly costs will be higher, however, because you'll have property taxes and homeowners insurance premiums to cover at a minimum. And you may have other expenses, like private mortgage insurance, which applies if you don't manage to make a 20% down payment on your home.

Check out The Ascent's mortgage calculator to see what your monthly payment might be and how much your loan will ultimately cost you. You can also find out how much money you'd save by snagging a lower interest rate, making a larger down payment, or opting for a shorter loan term.

Click here for more information: