Sep 4, 2024 - News
Chart du jour: Interest rates vs. your home payments
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You can probably see why many Salt Lake City homeowners who secured those low interest rates during the pandemic are reluctant to sell their homes.
The big picture: A percentage point can translate to thousands of dollars saved or spent on your mortgage.
By the numbers: Homeowners who locked in a 3% interest rate on a $549,000 home with a standard down payment spent an estimated $1,852 on their monthly mortgage.
- Homeowners with an 8% interest rate on their mortgage paid about $1,371 more.