Mortgage Rates

For several years now, we’ve been warned that mortgage rates would rise from the current historic lows. Take out a loan for $300,000 at 5% for $1610/month now. If house prices decline and you are able to purchase the same home for $15,00 less at a mortgage rate of 5.75%,your monthly payment will be $50 more and the interest you will pay will be $34,00 more.