![]() Your monthly mortgage payment (principal & interest only) would be $1,193.54.But you’re busy, you like your apartment, and moving is such a hassle. You decide to wait until next year to buy. CoreLogic predicts that home prices will appreciate by 5.1% in the next 12 months; this means that same house you loved now costs, $262,750. Freddie Mac predictsthat over this same period of time, interest rates will be a full point higher at 5.0%. Your new payment per month is now $1,410.50.The difference in payment is $216.96 PER MONTH!That’s basically like taking $8 and tossing it out the window EVERY DAY! Or you could look at it this way:
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