3 ms·

Real monthly mortgage payments can be very misleading. It's quite different if one pays 15 year mortgage VS 30 year mortgage. Of course, for 30 yr monthly rate

Real monthly mortgage payments can be very misleading. It's quite different if one pays 15 year mortgage VS 30 year mortgage. Of course, for 30 yr monthly rate is lower but total costs are way higher.

rayiner 6y ago
The chart is assuming a 30-year fixed mortgage on whatever happened to be a median-priced house in a particular year with prevailing mortgage interest rates.