On average interest rates have risen by 0.50% since Election Day from an average of 3.5% to an average of 4.0%. This trend is expected to continue. If you have been on the fence about buying, you may want to consider jumping off!
Below is an illustration of the impact on a principle and interest payment for a $300,000 mortgage:
Below is an illustration of the impact on a principle and interest payment for a $300,000 mortgage:
- $300,000 – 3.50% - $1347/month
- $300,000 – 4.50% - $1432/month
- $300,000 – 4.50% - $1520/month
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