How Much Will Waiting to Buy a Home Cost You?

How Much Will Waiting to Buy a Home Cost You? 30-Year % Rate Comparison January 2014: 4.53% April March 2014: 4.28% 2014: 4.4% 2013: 3.34% 2013: 3.54% February 2013: 3.52% 2014: 4.23% 2013:3.53% Buyer B 24 5% Buyer A 4.5% $250,000 30-year Fixed-rate Mortgage $250,000 30-year Fixed-rate Mortgage Monthly Payment = $1,342.05 Total Paid = $483,138 Interest Paid = $233,138 Monthly Payment = $1,266.71 Total Paid = $456,015.6 Interest Paid = $206,015.60 Buyer B will spend $27,122.4 more! Every extra point on a mortgage decreases buying power by about 10 percent. the CAMERONteam COLDWCLL BANKER S Sources: www.FreddieMac.com S atisfa c tion Gu arante ed www.thefiscaltimes.com/Articles/2014/01/06/ Cold w ell Banker Se a C o a s t R e alty SEA COAST ADVANTAGE What-Rising-Interest-Rates-Will-Cost-You-2014 www.TheCameronTeam.net