Morning Minute: See how different mortgage rates affect your monthly payment

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Higher mortgage rates mean a higher monthly payment, right? But how do those numbers break down and how does your county compare to others?

If you are shopping around for a new home and are wondering how different mortgage rates will affect your monthly payments, you’ll want to check out the post,” How Much Will Your Monthly Payment Change?,” on the National Association of REALTORS®’ (NAR) Economists’ Outlook blog.

Searching by state and county, you’ll find monthly payment comparisons based on mortgage rates at 3.5 percent, 4.2 percent and 5 percent. Learn more.

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