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Q: How is it calculated that a 1% increase in mortgage rate is equivalent to a 20% increase in the price of a home? Q: How is it calculated that a 1% increase in mortgage rate is equivalent to a 20% increase in the price of a home?

Question: I read that a 1% increase in mortgage rate is equivalent to a 20% increase... 

American Visionary Art Museum is part of Free Fall Baltimore Event American Visionary Art Museum is part of Free Fall Baltimore Event

The American Visionary Art Museum (AVAM) is an art museum located in the Federal... 

The Walters Art Museum is part of Free Fall Baltimore Event The Walters Art Museum is part of Free Fall Baltimore Event

The Walters Art Museum, located in Baltimore, Maryland’s Mount Vernon neighborhood,... 

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Featured Posts

How do you buy a house that needs repairs before a bank will lend money? How do you buy a house that needs repairs before a bank will lend money?

Most people can’t pay cash for a home, even if it is a discounted foreclosure property. That means you need a loan. But, banks don’t want to lend on a home that is not livable. So does that mean you can’t buy distressed properties? Are the deals off limits? The Federal Housing Administration (FHA) has a loan program just for this... [Read more of this]

How low will the bank accept for a short sale offer? How low will the bank accept for a short sale offer?

It is a simple question with a difficult answer. How low will the bank accept for a short sale offer? As with most things, it depends. First of all, the seller of the property is the owner, not the bank. The seller must accept the offer before the bank will even see it? But, since the seller walks away from the closing without any money going to him,... [Read more of this]

How To Challenge Your Maryland Property Tax Assessment How To Challenge Your Maryland Property Tax Assessment

When property values were rising, local governments were loving the new higher property tax assessments that went along with that. Existing homeowners were protected from quickly rising tax bills by the Maryland Homestead Tax Credit. But, new homeowners aren’t immediately protected by the Homestead Tax Credit. Still, at least they know in advance... [Read more of this]

Top 10 Reasons Rich People Own Real Estate Top 10 Reasons Rich People Own Real Estate

Rent vs Buy : You are building equity. A 30 year mortgage means at the end of 30 years you have paid off the loan. The house is all yours. If you had a fixed rate mortgage, then that was 30 years without a rent increase. If you were renting, then you paid off your landlords mortgage, and your rents went up year after year. Value Appreciation : In... [Read more of this]

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