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What will the new interest rate be?

April 26, 2017Interest rate

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What will the new interest rate be?

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After your loan has been modified, your interest rate will vary depending on your unique situation. Your mortgage payment should not exceed 31% of your monthly income. The interest rate will not be below 2%. The Morgagee Letter 2008-21 states that the new basis interest rate is 200 points above the monthly average yield on U.S. Treasury Securities, adjusted to a constant maturity of 10 years.