With that in mind, here are a few quick and easy numerical examples that show the impact of a simple scenario involving mortgage interest: A $300,000 mortgage with a 3.5% fixed rate over 25 years carries a monthly payment of approximately $1,500. The same home loan with a 4% fixed rate will cost you over [...]
Despite that, however, we find that many new borrowers don’t really understand much about the way mortgage rates work. In fact, many seem to treat home loan interest the same way they would the weather – as something they think about, but couldn’t really explain. It goes without saying that mortgage rates are influenced by [...]
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