High mortgage costs reduce home ownership benefits

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High mortgage costs reduce home ownership benefits

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11-14-2007, 01:57 PM

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High mortgage costs reduce home ownership benefits

Property price inflation and interest rate increases have substantially decreased the financial benefits of taking out a mortgage to buy a home rather than renting, over a 25-year period.The cash benefit to mortgage borrowers has reduced 75% over the past 12 months according to the latest annual Rent vs Buy index compiled by Abbey.The research [...]

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