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Jim Wolf's avatar

Mr. Sprague, thank you for this excellent piece. One nitpick if I may. In spotlighting the impact of an interest rate hike on purchasing power, I think you may have erred in your terminology. That is, you state that the difference of "three percent" means a difference in over $100,000 of property value. But don't you mean three percentage points, rather than three percent? In your example, the posited $1,499 payment would be a whopping 42.22 percent more than the $1,054, not three percent, barring any errors in my calculation.

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