Wednesday, March 19, 2008

Mortgage Rates

The 30 year mortage rate is on a rollercoaster ride:

It was a very important factor in buying our home, interest rates were at the 5.5% level then. (1 st week of February)

Last week the interest rate was at 6.08% and today it's 5.66%.
To give you an idea of the difference in payment for every interest rate level:(everything is quoted in "useless" dollars)
100 000 / 30 y Fixed / 6.30 = 619 a month
100 000 / 30 y Fixed / 6.10 = 606 a month

100 000 / 30 y Fixed / 5.90 = 593 a month
100 000 / 30 y Fixed / 5.70 = 580 a month
100 000 / 30 y Fixed / 5.50 = 568 a month
100 000 / 30 y Fixed / 5.30 = 555 a month

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