Big changes in the mortgage industry… watch the last few minutes to see the highlights.

Reducing a 30-year mortgage to a 25-year mortgage basically means this:  If you borrowed $100,000 at 3.5% right now, your payment on a 30-year is about $450/month, and with a 25-year, it’s about $500/month.  So it has an effect pretty close to raising the interest rates by 1%.  Overall, I think it’s a smart move… because if they changed interest rates, it would cause chaos right now.  What do you think?

Oh, and today’s list of homes is probably the first time I EVER remember doing an episode of MDH where everything is move-in ready.  Lots of choices in the $400-500k range today, and we’ll talk about which types of homes increase in value faster than others.  Don’t miss this one boys and girls!

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