Interest Rates & The Impact On Your Fort Lauderdale Mortgage
Below is a chart that was put together by Bob Weidemer, author of the book Aftershock: Protect Yourself & Profit In The Next Global Financial Meltdown. It shows that if rates go up 1% a home’s value & sales price would have to drop by 11% to keep the same mortgage payment. The baseline rate he is using in this example is 4% so when rates to to 5% it’s an 11% drop, 7.5% would require a 32% decline, and 10% would be a 45% decline. This is a pretty powerful chart and a very real example.