'how many mortgage holders could afford a 50% increase in mortgage payments? if they are currently at 5% and rates rise to 7.5%.. there would be major mortgagee sales...'
it could be a 50% increase,
if you had an interest only loan.
however,
it you had an interest and principle loan,
it would be lot less than 50%!
it you went from an interest and principal loan,
to an interest only loan,
it could be no extra at all!
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how many could afford a 50% increase, page-47
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Ryan Parkin, Managing Director & CEO
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