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Cost of a Home: Impact of Interest Rates

Steve Harney, a leading real estate expert, composes one of our favorite real estate blogs, Keeping Current Matters. Follow him here. He says the following:

“The buyer should always look at the COST of a home, not just the PRICE. The cost is determined by the price and the mortgage interest rate which is available at the time. Below is a list of the interest rates over the last ten years and the impact they have on a $100,000 mortgage payment.”