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Where Are Mortgage Rates?

Mortgage rates Miami

Mortgage rates Miami

“Historic Lows” is the catch phase that everyone is using but what does that mean in terms of monthly payment? The chart below illustrates a 30 year fixed rate of 3.49% however today we are quoting 3.375% (APR 3.403%).

So what does a rate of 3.375% translate into in terms of dollars. Well for each $100,000 borrowed it equals $441 per month in principle and interest.

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