Natalia Marques responds to a property developer's recent call for more "pain" in the U.S. economy by highlighting what happened after pandemic-era aid ended.
By Natalia Marques
Peoples Dispatch
Millionaire real estate company head Tim Gurner went viral (not for the first time) for his ba
Edit. Sounds like OP might be talking about property taxes, not mortgage principal.
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It sounds like you have an adjustable rate mortgage. If so, it is the national interest rate that is driving that up.
Your increased property value doesn’t drive up your mortgage. That is fixed.
No, that doesn’t mean that. They likely pay their property taxes through their mortgage via escrow. Since it all comes from the same payment, that means their mortgage payment rose, even if it wasn’t tied to the actual mortgage.
This
Property value in most places absolutely sets your taxes, which is part of your monthly mortgage payment
So yes, the principal+interest doesn’t change but when most people talk about their monthly mortgage they talk about the total amount they pay to live in their house that they’re making payments on