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Interest rates increased by 4 basis points from Dec 2021 to Dec 2022.[1] So a 3% loan then would be a 7% loan now or a 5% loan then would be a 9% loan now. The
by webinvest 4y ago
Interest rates increased by 4 basis points from Dec 2021 to Dec 2022.[1] So a 3% loan then would be a 7% loan now or a 5% loan then would be a 9% loan now. The starting rate would depend on your credit score or other factors.
Citation:
[1] https://fred.stlouisfed.org/series/FEDFUNDSLa https://fred.stlouisfed.org/series/FEDFUNDSLa
- EVa5I7bHFq9mnYK 4y ago1) A basis point is 0.01%. 2) We should count the rate increase from the contracted delivery date to actual delivery date, i.e. one month instead of 12 months.