12/13 For an average priced house in the Bay Area paid with 20% down,
how much more monthly payments is it per quarter point hike in
the interest rate? I did a quick preliminary check on yahoo's
mortgage calculator and it's only about $50/month/quarter point.
That's not a lot.
\_ Think about how excited you'd be to save $50/month on, say, your
gas/power bill.
\_ and that's just for a quarter point (0.25%)
\_ The op's point is that even with 1 point increase, or
$200/month extra, it's not really going to affect people.
Heck, in the Bay Area I pay $80 for gardeners, +$200 for
premium cable/phone/DSL, $105 for Cingular family plan,
$500 eating out, and another $500 for movies, skiing,
road trip, gas, whatever. How is $200 extra/month going to
affect the economy where I'm at?
\_ Not everything is about you and your ilk. Are you
stupid or just dumb?
\_ Let's say rates go up to 8%. That's $400/month and
there goes your eating out or your car payment or
whatever. Even if it's $100/month it will "affect
people".
\_ Do you own an average house?
\_ Are you one of those contributing to the negative
savings rate of the nation? |