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ramble81 , 11 months ago (edited 11 months ago) Saw this in a news article: The monthly principal payments on a $1M note at 3% is equal to the monthly payments of a $500,000 note at 9%. So a 6% jump in interest rate effectively halves your buying power. Of course people aren’t going to sell their houses if they don’t have to. Edit: got my percentages 1 point off.
Saw this in a news article: The monthly principal payments on a $1M note at 3% is equal to the monthly payments of a $500,000 note at 9%.
So a 6% jump in interest rate effectively halves your buying power. Of course people aren’t going to sell their houses if they don’t have to.
Edit: got my percentages 1 point off.