Mitchell Homes Fredericksburg
According to an April 10, 2014 Washington Post article, mortgage rates are up nearly 1% when compared to this same time in 2013. 1% may not sound like much at first, and it may not even make a large difference in your monthly mortgage payment. However, a 1% difference can make a big difference in the total amount you pay for your home when spread over a 30-year period. These savings can add up to more coffee, a vacation, a new car, or even a downpayment on a vacation home.
The infographic below shows how much money you can actually save over 30 years with a 1% lower interest rate.