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Sign into your accountDelivering a Simple but Compelling Message that Will Boost Your Lead Engagement
July 17 2013
This post comes to us from Delta Media Group:
The KCM Blog drew a significant amount of attention this week with the most simplistic of messages.
It used the chart below to demonstrate how much extra money it might cost a consumer who decides to buy a house today as opposed to one year ago.
Difference in house payment in 2012 vs. 2013 based on typical price
and interest rate increases. Source: KCM Blog.
The concepts illustrated here are based on a bit of assumption and a bit of fact.
The assumption being the same house would still be on the market, and would have increased in price by 10 percent (house prices have increased by double digits in markets across the nation, so a 10 percent price increase in a comparable house is not a stretch).
The fact being that interest rates have increased by a full percent over the past year, which they have. That increase alone means a higher monthly cost to home purchasers, and a much higher total price at the end of a 30-year mortgage, if paid out over all 360 months.