The math on the typical mortgage is pretty crazy right now.
The median home sale price in Portland was $517k in August, according to Zillow.
Assuming 5% down and a property tax rate of 1.04%, you’re looking at about $3,700 per month with a fixed-rate 30-year @ 7%.
The monthly payment on the same home in 2021 @ 2.75% would’ve been about $2400. That’s $15,600 more per year, or $468k more over the life of the loan if you were to never refi.
#realestate #economics #personalfinance #pdx #pnw
Bryan /
npub14u…vhd57
2023-09-20 21:17:19
Author Public Key
npub14u9aufa5lzy5f3l0rkkv7meazxzg76kvsyddju2qz4yz7ru4fxes0vhd57Seen on
wss://relay.noswhere.comPublished at
2023-09-20 21:17:19Event JSON
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