Just saw an article this morning saying mortgage rates are swinging pretty wildly depending on where you live. Like, apparently some states are way cheaper than others right now. Kinda surprising, honestly. Curious if anyone else noticed this or has thoughts why that's happening?
Honestly, I'm not sure it's all that surprising. Mortgage rates have always varied a bit state-to-state because local economies and housing markets are so different. I remember when we bought our first house, my brother-in-law in another state got a way better rate than we did, and I was like, "Wait, what?" Turns out, his area had way less demand and fewer people moving in, so lenders were competing harder for business.
Plus, some states have stricter lending regulations or higher taxes, which can push rates up. And don't even get me started on property taxes—those alone can make your monthly payments swing wildly depending on where you live. So yeah, while the recent swings might seem dramatic, it's kinda always been this way to some extent. Just another fun part of adulting and homeownership, right?
