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by foogazi
1890 days ago
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> If you change rates, the list price will change but monthly payments won’t. Exactly If the buyer can only afford $1,000 a month with a 30 yr mortgage - that sets the upper bound of the list price of the asset If rates rise the monthly payment stays the same, but the buyer can only afford a lower priced house. If rates go down those $1,000 can now pay for a higher list price |
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