4 ms·
The article says rates have more than doubled since the beginning of the year. Uaing a mortgage calc for $400k and 20% down: 3.58% = $522k, or $202k in interes
by mysterydip 4y ago
The article says rates have more than doubled since the beginning of the year. Uaing a mortgage calc for $400k and 20% down:
3.58% = $522k, or $202k in interest
7.16% = $778k, or $458k in interest
- montzark 4y agoThere is nuance that interest changes over the period of the loan. In or so 2007 some people took 5% Euribor + margin loans, but only some years after it was negative. And since negative euribor was not written to contracs some paid less interest than was margin.
- lotsofpulp 4y agoIn the US, 90% of loans are fixed rate for the entire term. https://twitter.com/RickPalaciosJr/status/1508113813526114306?s=20&t=kypE8hDL2n7fYKlJQzoGFw https://twitter.com/RickPalaciosJr/status/150811381352611430...
- xnx 4y agobut can be refinanced if lower rates become available
- gedy 4y agoNot typical in the US where many/most? mortgages are fixed rate for the entire 30 years
- montzark 4y agoMy bad, I'm from Europe. I think here is vice versa.