Tuesday, February 22, 2011

Interest Rates and Prices

We're most conscious of the price of a home and secondly of the rate at which we borrow money to pay for it. The jump in rates in Canada certainly took home ownership just a little farther from those depending on the historical low rates we'd been seeing. If you're price aware but interest rate blind it can cost you... a lot. Check out this interesting chart and breakdown of costs at The KCM Blog although it's for the US market simple math knows no borders.

1 comment:

Toronto Rental Apartments said...

Ya you are absolutely right my friend, I totally agree with you.
I have seen the chart there is a big difference between interest rates.

We have to pay a big amount as our principal amount is bigger.
So beware about interest rate.