The expense of even a 1-point interest rate increase: On a $200,000 loan, an increase from 6 to 7 percent costs an added $131 per month and $47,340 over the life of the loan. On a $400,000 loan, the same increase costs buyers an additional $263 per month and $94,680 over the life of the loan. If you are in the market for a home be sure to look at the big picture. Real estate is like the stock market- you've got to be Divergent and go against the masses to truly "buy low." When people are sitting out, that's the time to buy. Once they've all jumped back in you've missed the mark. Be sure to take all of the factors in. Rates are extremely low and so are home prices. Even though you may not buy at the bottom, you'll get a good deal. For quick online calculations of various loans/investments, www.dinkytown.net
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