“Mortgage Rates Are Rising” Explained
News says "Mortgage Rates Are Rising" 1. What does this really mean? 2. Who is affected? 3. Does this change the amount of mortgage clients qualify for? 1. What does this really mean? Let’s use an example to illustrate what this actually means. On a mortgage of $500,000 with a 25-year amortization and an interest rate of 1.59% the payment per $100K of mortgage is $403.93....