1 posted on
11/06/2003 8:24:43 AM PST by
Brian S
To: Brian S
Coastal markets also tend to be more sensitive to rising rates because the homes cost so much. In Los Angeles, where the median home price is $315,000, the monthly payment on a 30-year mortgage jumps by $423 if rates rise to 8 percent from 6 percent. In St. Louis, where the typical home goes for $117,000, that rise in rates would boost the monthly mortgage payment by just $157. 315000 / 117000 = 2.6923
423 / 157 = 2.6943
Somebody 'splain to me how a home costing three times as much and having a payment increase of three times as much means that "Coastal markets also tend to be more sensitive to rising rates because the homes cost so much."
2 posted on
11/06/2003 8:32:19 AM PST by
Izzy Dunne
(Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
To: Brian S
Hmmm... I always thought it would be because of the holes in the walls and the rundown state of all the appliances....
5 posted on
11/06/2003 10:50:53 AM PST by
Geritol
(Lord willing, there will be a later...)
To: Brian S
The author has successfully demonstrated that she can derive monthly payments, i-rates, and NPV given variables.
To: AntiGuv; arete; sourcery; Soren; Tauzero; imawit; David; AdamSelene235; sarcasm; OwenKellogg; ...
8 posted on
11/24/2003 8:34:00 AM PST by
Starwind
(The Gospel of Jesus Christ is the only true good news)
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