Ever wonder who’s really making the big bucks from the housing market? The answers might surprise you. Check out the graphic below!
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It makes it look like the mortgage lender is making a killing when in reality that $191,316 is spread out over 30 years. If you discounted the interest payments back to today, that $191,316 would shrink considerably.
Anyone who has taken a survey level finance course could tell you this.
I think the graphic states it’s $191,316 over a 30 year period. Plus, I don’t know who’s qualifying for the low interest rates that banks are offering right now as their prime rates.