— Whitney Watson (@RVAloanofficer) January 25, 2013
Using the same exact scenario, today’s rate pricing is 4.25% (apr 4.397), a full point higher. The new principal and interest payment would be $1,883, meaning the same house would cost you $217 more a month.
You can still have January’s rate, but it would cost you 7 points, or $23,344. Yikes!
If you are interested in purchasing or refinancing in one of the following states, I will be happy to connect you with a licensed loan officer in your state: Maryland, Delaware, Connecticut, Florida, Georgia, Maine, Massachusetts, New Hampshire, New Jersey, North Carolina, Pennsylvania, Rhode Island, South Carolina, Washington D.C., or West Virginia.