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.
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1 comment:
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.
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