In January 2021, the average 30-year fixed mortgage rate touched 2.65%. A $300,000 loan at that rate cost approximately $1,215 per month in principal and interest. At today’s mid-6% rates, the same loan costs approximately $1,896 per month. That $681 monthly difference represents $8,172 per year and more than $245,000 across a 30-year loan. Understanding […]

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