Lawler: The Sharp increase in Monthly Payments in Selected Metro Areas
A table Showing the Increase in Monthly Payments for 37 Metro Areas and the United States
The first section and table are from housing economist Tom Lawler:
According to Mortgage News Daily, the interest rate on a 30-year fixed-rate mortgage for a prime borrower putting 20% down increased to 5.45% earlier this week from 3.14% a year ago. Such an increase would result in a 31.6% jump in the monthly principal and interest (P&I) payment on a mo…
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