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Reply to "Why don’t people understand that low rates work against them?"
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[quote=Anonymous][quote=Anonymous]If you could buy a $1,000,000 million house at 4%, with a monthly payment of about $4,700 per month, when the rates hit 3% the price goes promptly to 1,250,000, with a monthly payment of roughly $5,300. So your principal is higher, and your payment, all in the name of lower rates. https://www.calculator.net/payment-calculator.html [/quote] low rates equal high prices..I dont think its promptly but you are right! your rate can always be refied down the road but the price you purchase never changes. this is how people go under. this is not a good time to buy![/quote]
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