Mortgage Mania

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Mortgage rates are yo-yoing like the stock market. Some people even got 5.625% early this week. Think it doesn’t matter?
Here is an example take that rate vs a 6.5% rate. It’s roughly $56 per $100k borrowed difference. If you have a $500k mortgage that’ $280 per month every month. It’s like getting a $40,000 price cut on your purchase price. So Mr. Buyer, if you are sitting on the fence waiting for the seller to cave over the last fifteen or twenty thousand and the interest rates pop up a little,….as Warner Wolf says ” you still lose”. You got your concession but still write a bigger check every month.

Check that. With the financial system in turmoil, the banks can use every dime. Please pay more..My 401k feels better already.

Hoboken Condos 2008
Under contract 177
Since Sept 1st 60
Information deemed reliable but not guaranteed

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