3 ms·
For most people middle class and higher it lowers the effective interest rate by a third or more. That's a much lower interest rate and changes the math a lot.
by CPLX 10y ago
For most people middle class and higher it lowers the effective interest rate by a third or more. That's a much lower interest rate and changes the math a lot.
- marssaxman 10y agoHm. I guess it doesn't matter to me because I bought at a time when the interest rate was practically nothing anyway (my mortgage is at 3.5%). I can see how it would have been a big motivating factor for people in my parents' generation, who are of course the same general class of people who would have been trying to convince me that the mortgage interest deduction was a big deal.