What A Surge In Mortgate Rates Means To Monthly Payments

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Scared by the recent surge in mortgage rates? Don’t let it stop you from buying a house.
Here are some numbers from MortgageMarvel.com that illustrate what would happen to mortgage payments on a 30-year, fixed-rate loan that was 3.9 percent on June 1 and another loan secured June 25 at 4.5 percent.
The breakdown:

Monthly Principle/ Monthly Principle/ Difference
Mortgage Amount Interest Payment Interest Payment Per
(3.9 Percent) (4.5 Percent) Month
$100,000 $471.67 $506.69 $35.02
$200,000 $943.34 $1,013.37 $70.03
$300,000 $1,415.00 $1,520.06 $105.06

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