Monthly Archives: January 2017
Interest Rate Effects
How does an interest rate change affect you?
$1,000 Payment 30 year Loan
3.5% loan amount – $222,200
4.5% loan amount – $197,400
1% Change in rate is a 10% change in buyer’s price!
Interest rate history for past several months
1st Quarter 2016 – 3.6%
2nd Quarter 2016 – 3.6%
3rd Quarter 2016 – 3.4%
4th Quarter 2016 – 3.9%
1 Quarter 2017 – 4.2%