How Much Do Interest Rates Affect Your Payment?

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Categories: Market Statistics, opinion Posted on January 6th, 2009

I decided to do a little research on the affect that interest rates can have on one’s monthly mortgage payment. I found it very interesting so I created a chart to share with you.

Currently interest rates are at lows that we have not seen in a few years. What is more interesting this time is that prices are also at a low simotaniously (this doesn’t happen often).

I highlighted the TWO payments in RED to show you that a 10% decrease in home values is knocked out by a 1 percentage increase in interest rate on a 30 year fixed loan! This works out to be the same on other prices.

Draw your own conclusion… but for those who have waited for the right time to purchase…. it could be now.

Dulles VA… Location, Location, Location

Relocating To The Dulles Area?

Numbers should be verified for accuracy.

This entry was posted on Tuesday, January 6th, 2009 at 1:07 PM and is filed under Market Statistics, opinion. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.