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It's Really Not That Bad
 January 19 2018     Posted by Mary Poburan

It's NOT AS BAD AS IT MAY SEEM...Ok. I have always been pragmatic about issues. We all know rates are rising. The concern now is for anyone who has a mortgage maturing in 2018. What now? Well its not that bad. Lets say you took out a 300K mortgage in 2013 at 2.79%. Your payments would have been 693.80 biweekly. At the end of your term, lets again assume the new 5 year rate will be 3.79%( currently they are not that high). Your new biweekly payment will be 734.50. A difference of 40.70. That about the equivalent of 2 lunches out or 8 cups of coffee. In the big scheme of things...It's Not that bad!

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