Personal Finance
Saturday, 6/27, 11:44 AM
The Fixed Mortgage Payment That Isn't Fixed: How Taxes and Insurance Push Bills Higher
- A 30-year fixed mortgage is supposed to lock in a stable monthly bill.
- But the principal-and-interest figure the bank quotes is only part of the payment — the rest, routed through an escrow account for property taxes and home insurance, has been climbing sharply, and it can rise even when your interest rate never moves.