It’s the Interest Rate Stupid

Interest Rates are currently hovering between 4.25% and 4.5%.  If you buy a $350,000.00 house today with a 4.25% rate and 20% down your payment on a 30 year fixed rate mortgage would be 1377.43 per month(Principal and Interest).  Add in taxes at $3000.00 per year and insurance at $1600.00 per year and your total payment would be $1760.77.  If you are interested in what that will buy you click here.