The Felon Pope :popephil: on Nostr: For many years mortgage interest was very low. My mortgage is at 3% Suppose you have ...
For many years mortgage interest was very low. My mortgage is at 3%
Suppose you have a budget of 1600 per month for a house. After property taxes and Insurance, you have 1275 left. And you have 60k in cash. Then you can afford about a 360k house. At 6.5% you can afford a 250k house. That's a huge difference.
When mortgage rates started to increase, people were reluctant to move and lose their low rates, and people were anxious to buy b4 rates got higher. 1/2
Published at
2025-11-26 15:27:27 UTCEvent JSON
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