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ST. GEORGE — Those looking to buy a house in Washington County now face a dramatic difference in the price of a monthly mortgage, according to a recent report.
According to data released by insurance and software review company Construction Coverage, homebuyers in the St. George metropolitan area pay 40% more per month in mortgage payments today than those who bought a home two years ago.
Construction Coverage researchers calculated the difference between the estimated monthly mortgage payment for a median-priced home in the current market compared to two years ago in all 50 states.
Nationally, average mortgage rates climbed from 3.8% to 6.8% in the last two years. The median home price rose from $316,778 to $347,716 across the country.
