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09-04-2024, 09:53 AM | #1 | ||
HSV - I just ate one!
Join Date: Dec 2004
Location: Middle of nowhere
Posts: 3,106
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What I'm looking for is if repayments were say, $380/week or whatever at the start of 2022, hw much have they gone up since then.
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10-04-2024, 08:51 AM | #2 | |||
Chairman & Administrator
Join Date: Dec 2004
Location: 1975
Posts: 106,666
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Quote:
OK - it's not quite simple without some reverse engineering but here goes. $380 / week is $1,646 per month so in January 2022 when the median variable interest rate was 4.52% a 30 year mortgage would have been about $324k borrowed. The median fixed rate currently is 8.52% so that same $324k / 30 year mortgage would now be costing $578 per week - an increase of $198 / week or 52%.
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