According to MSN Money, three expenses will be lower for Americans this fall. These include lower (1) mortgage rates, (2) gas prices, and (3) heating prices.
Mortgage rates have been falling, with rates being the lowest in over a year. A 30-year fixed mortgage has fallen to below 4%. The lower rate benefits homebuyers as well as those who wish to refinance their existing mortgages.
Gas prices have gone down an average of 50 cents per gallon since the end of June. Compared to July 4th, most drivers are already spending $5 to $15 per fill up.
Finally, due to a forecast of a mild winter, heating costs should be lower. This should offset the increase in natural gas and electricity costs and result in a lower bill when compared to last winter. Additionally, due to the lower petroleum costs, consumers using heating oil or propane may see a 15% drop in heating costs.
