Check Out This Mortgage Rate Rule Of Thumb

Check Out This Mortgage Rate Rule Of Thumb

What a higher rate means for your bottom line The monthly payment on a $200,000, 30-year fixed-rate mortgage at 3.35% (what it averaged in early May) is $881. When the rate goes up to 4.46% (what it averaged in late June), the monthly payment is $1,009, according to calculations from Trulia’s chief economist, Jed Kolko. Or consider this rule of thumb: For every $100,000 borrowed, a percentage point increase in rate means an additional $83 a month in your monthly mortgage payment, said David Zugheri, executive vice president at Envoy Mortgage in Houston. Is that enough to stop someone from buying a home? Probably not. But it will likely make someone consider to purchase that new home sooner then later, he said. Even a smaller jump can be felt in a borrower’s monthly budget.
If you have questions, give me a call or email. (602) 432-3557 or

Joshua Smith Headshot
Phone: 623-703-7445
Dated: July 24th 2013
Views: 783
About Joshua: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Union Park At Norterra Homes For Sale - Union Park at Norterra is a
Most Important Tip To Boost Your Credit Score - The following is how to pay your
STEP 7 To Raise Your Credit Score - 7. Don't obsessYou should be laser
STEP 6 To Raise Your Credit Score - 6. Don't hint at riskIf you're

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

REVISTO Real Estate Group
15282 W. Brookside Ln Suite 119
Surprise, AZ