The median existing house price increased 3.4% from a year earlier to $391,800, the highest for any October.

    • @dogslayeggs
      link
      11 year ago

      A $500,000 loan goes from $2182 to $3400 from 3% to 7%. A $1,000,000 loan goes from $4363 to $6835. Still not double.

      Doubling the rate doesn’t double the total payment, only doubles the interest payment.