What's Hot in Real Estate??
Interest Rates are still at/near record lows of @4.5%!!!!! Soo, on a $250,000 mortgage the monthly mortgage payment is only $1266.71. When the rates go up to 5% that becomes a $1342.05 payment and when they get to 5.5% it will be $1419.47. Thats $152.76 more for the FOR THE SAME house!! (...Thats $55,000 over the life of a 30 year loan) And it gets scarier as the rate increases....If you like to run your own numbers, head over to GarveySells.com and use our Mortgage Calculator.
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