We always say that now is a good time to buy. Well, Bernice Ross in Inman News gives the reason why. If interest rates increase from 4.42% to 5.42% for every $200,000 borrowed, the buyer will pay $43,802 or 27% additional interest on the life of a 30 year loan. If the interest rate increases from 4.42% to 6.42% the buyer will pay $89,908 or 56% additional interest.
From the Cape & Islands Board of Realtors Facts by Lynette Helms