It only shows that mortgage payments are more manageable now compared to the nearly 10% interest rates 10 years ago.
• Though mortgage interest rates are rising, many are still likely to have a bit more to set aside for mortgage payments in 2017.
• Rising interest costs are already here with a flurry of rate increases, but as to how much & how quickly rates will rise is uncertain.
• In comparing the avg. 2-yr fixed rate in December 2016 with those in 2015, 2014, 2010, 2009 & 2007, it shows a high amount of mortgage payments that would seem impossible to find.
• If interest rates rose back to 4.78% where they were in December 2015, the pain would be minimal.
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