Buying a house has become increasingly expensive in recent years. Home prices have gone through the roof and interest rates on mortgages have increased significantly from the historic lows we saw during the COVID-19 pandemic. The average mortgage interest rate has stayed above 6% on 30-year fixed mortgages during 2024, and has only dipped slightly lower for 15-year fixed loans. The average interest rate varies widely by state, too.
Unfortunately the average mortgage interest rate increased in 44 of the 50 states from Q1 2024 to Q2 2024. In order to highlight the states where homeowners’ financial burdens are getting heavier, WalletHub compared the 50 states based on our proprietary user data on mortgage interest rates.
South Carolina Stats
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- Overall Rank: 4th
- Average Mortgage Interest Rate in Q2 2024: 5.55%
- Change in Average Mortgage Interest Rate (Q2 2024 vs. Q1 2024): 2.52%
For the full report, please visit:
https://wallethub.com/edu/states-mortgage-interest-rates-change/141339
