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Steve Harney’s Study of the Impact of Interest Rates on Payment

The Mortgage Bankers Association (MBA) is projecting that mortgage interest rates will inch up over the next twelve months.  According to Steve Harney, our favorite real estate expert and author of the KCM blog, he explained that many experts are calling for home prices to also increase over the next year.  Here is his simple demonstration of what impact certain changes would have on the mortgage payment of a home selling for approximately $200,000 today:

Follow his blog here.