4.5% is not enough.

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It’s being reported that the latest installment of the government bailout is nudge the markets to a 4.5% mortgage interest rate. Given that the rate is about 5.5% today that equates to about $61in savings for every $100k borrowed. So a $500k mortgage will be reduced by $305 per month. But that $600k home will have taxes around $8,000 in 2007 and …wait for it….$11,760 in Mayor Robert’s 2008.

Your net loss $100. The government giveth, the other government taketh away to pay for multiple and redundant services.

Hoboken Real Estate
Single Family Homes
Available 22
Information deemed reliable but not guaranteed

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