Difference from 2004 to today in Home Mortgages Recalculated to "Real" conditions....
Current 30 yr rate 6.38%
U.S. 30-year mortgage rates averaged 5.84 percent in 2004, holding near last year's record low and helping drive home sales to all-time highs, Freddie Mac said.
The average rate for a 30-year fixed mortgage was almost unchanged from 2003's 5.83 percent, the lowest since Freddie Mac began keeping track...
Your Monthly Payment for 30 Years ( Today )
for an Interest Rate of 6.380 %
on a Loan Amount of $ 500,000.00:
$ 3,120.98 a Month
Your Monthly Payment for 30 Years (2004)
for an Interest Rate of 5.830 %
on a Loan Amount of $ 500,000.00:
$ 2,943.32 a Month
difference $ 177.60... not so bad, Hey a rare case when reality sounds alot better than ideal prime rate calculations.
