parket: Cause to Pause
- 09/28/22 09:40 AM
Rising mortgage rates are causing some would-be buyers to pause their decisions until they determine whether rates are going to come back down. While it may be possible, the probability is that prices are going to continue to increase. On December 23, 2021, the 30-year fixed-rate, according to Freddie Mac, was 3.05% and is at 6.29% as of September 22, 2022, a 3.24% increase. On a $360,000 mortgage, the principal and interest payment went from $1,528 to $2,226. The $698 difference represents a 46% increase in the payment. It seems understandable to pause and see if rates will come down again, especially since they went … (2 comments)
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