Why did you increase the interest rate to 9% for your 40 year calculation?
Edit: oh, in the article it says they expect rates to be in the 9% range.
I agree with the other commenter. With the higher rate and no benefit of the longer amortization period, this is insane. Doesn’t do anything to help people trying to afford a mortgage.
Why did you increase the interest rate to 9% for your 40 year calculation?
Edit: oh, in the article it says they expect rates to be in the 9% range.
I agree with the other commenter. With the higher rate and no benefit of the longer amortization period, this is insane. Doesn’t do anything to help people trying to afford a mortgage.
Yes… With current rates below 6% and going as low as 5.4%, the difference is even higher.