Team DE Capital Westchester

With the stock market volatility over the last two weeks mortgage rates rose while moving slightly lower as this week ends. Rates however ticked up .25% for home loan products across the board.  This change spotlights the value of both buying and selling now while rates remain at historic lows.  Higher rates reduce borrowing power as shown below for three different conventional 30 year fixed-rate loan amounts below.  Payments shown are principal and interest only.

$417,000 @ 4% vs. $417,000 @ 4.25%

$1,999.82  vs. $2,051.39

$51.57 monthly increase

$625,500 @ 4.125% vs. $625,500 @ 4.375%

$3,031.48 vs. $3,123.03

$91.55 monthly increase

$1,000,000 @ 4.375% vs. $1,000,000 @ 4.625%

$4,992.85 vs. $5,141.40

$148.55 monthly increase