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Stock impact report

Rising Interest Rates Send Mortgage Payments Climbing Twice as Fast as Home Values

Zillow Group, Inc. - Class A (ZG) 
Last zillow group, inc. - class a earnings: 2/19 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.zillowgroup.com
Company Research Source: PR Newswire
SEATTLE, Oct. 16, 2018 /PRNewswire/ -- Buyers' monthly housing costs are growing rapidly as mortgage rates have risen significantly since the beginning of the year. A new Zillow® analysis finds that higher rates are responsible for about two-thirds of the increase in buyers' monthly mortgage payments compared with what those costs would have been a year ago had home values remained constant at their current level. Monthly mortgage payments for the typical home are 15.4 percent higher than they were in August 2017. The median home value is 6.5 percent higher over the past year. For someone buying the median U.S. home, their monthly mortgage payments are $118 higher, or $1,416 each year. These higher mortgage payments reflect the combination of increased home values as well as the higher interest rates for buyers. Since the beginning of the year, mortgage rates have climbed from the historic lows they were near for much of the past decade. The average mortgage rate at the beginning of t Show less Read more
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