historically low mortgage rates suddenly on the rise. average rate, 30-year fixed mortgage, 4.51%. a two-year high. it was just more than six months ago it was 3.31%. if that doesn t seem like much of a spike. look at what it does over 30 years. take a full mortgage on $200,000 home, the monthly payment at the historic low just months ago, $877 a month. at the new rate that jumps to $1,015, a month. difference of $138. it adds up quickly. over 30 years, that s an additional $49,517 on that mortgage. hi, abc. hi, david. reporter: we first met the evangelistas in ann arbor, michigan, six months ago. the reason they went for the new home, not surprising. mortgage rates so low, the best time. a steal. reporter: they and their children are loving their new home. if you took out a full mortgage on their same home today, the monthly payment would be $384 more than when they bought it.
historically low mortgage rates suddenly on the rise. average rate, 30-year fixed mortgage, 4.51%. a two-year high. it was just more than six months ago it was 3.31%. if that doesn t seem like much of a spike. look at what it does over 30 years. take a full mortgage on $200,000 home, the monthly payment at the historic low just months ago, $877 a month. at the new rate that jumps to $1,015, a month. difference of $138. it adds up quickly. over 30 years, that s an additional $49,517 on that mortgage. hi, abc. hi, david. reporter: we first met the evangelistas in ann arbor, michigan, six months ago. the reason they went for the new home, not surprising. mortgage rates so low, the best time. a steal. reporter: they and their children are loving their new home. if you took out a full mortgage on their same home today, the monthly payment would be $384 more than when they bought it.
it is up 18% this year, the s&p up 17.5%. the 15-year rate hit 53.53 and the 30 year 4.51%. the federal government is in the money again for a few weeks it was. in june the treasury reported $117 billion surplus rare thanks to more revenue and less spending. for the weather we have chat myers. hello christine. little bit of rain in d.c. overnight has slowed down the commute there for sure. airport delays atlanta, new york city, philadelphia, charlotte and d.c. today, heavy rain event across the southeast for this weekend, sunny and nice across the northeast but a lot of rain coming in, even more flooding rain from d.c. southward through the weekend, expect that. it s the top of the hour and i know where we re going now. thank you so much, chad. it is the top of the hour which means it s time for the top means it s time for the top news. captions by vitac www.vitac.com
family. here is the happy ending part. they were rescued. the family had been in jelly fish infested water for eight hours. amazingly though none suffered significant injuries. good financial news this morning. stocks will open today at record highs after fed chairman ben bernanke said the central bank would continue to support the economy. the dow rose 169 points to close at 15,461. nasdaq meanwhile rose to its highest level in nearly 13 years. finally maybe a good time to check the 401(k) statements. huh. historically low mortgage rates are now, a thing of the past. the average rate of a 30-year fixed mortgage is now at 4.51%. that is a two-year high. just more than six months ago, 3.31%. high mortgage rates are actually a sign that the economy is doing better. a day that yankee fans had anxiously anticipated the captain. derek jeter back in the lineup for the first time after nearly
trying to clear up a half-century-old mystery and mary snow is monitoring that and top stories in the situation room. what s the latest? modern science finally may settle the question of whether albert desalvo really was the boston strangler. he confessed while in prison for other crimes but went to his grave without ever being prosecuted for the murders of 11 women in the early 1960s. today, a district attorney announced desalvo s body will be exhumed in hopes new forensic testing will link him to some of the victims. mortgage rates have climbed to their highest level in two years, hitting 4.51% for a 30-year loan. that s more than a full point higher than in early may. couple that with the rise in home prices over the last year, and people buying today can expect monthly payments to be about 25% higher than if they bought a year ago. and wall street s back in record-high territory. both the dow jones industrials and the s&p 500 closed above the records they set in may, a big