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%

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Posted on January 27, 2017, in Uncategorized. Bookmark the permalink. Leave a comment.

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