David has a credit score of 760 and he wants to get a mortgage to...
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David has a credit score of 760 and he wants to get a mortgage to buy a house. He can pay $2,300 each month. Before the pandemic, an average interest rate of a 30-year mortgage for borrowers with 760+ credit score was 3.5 percent per year. Right now, after the feds reduced interest rates in late February, an average interest rate for borrows with 760+ credit score is 2 percent per year. How much did this pandemic increase the price of the house David can afford to buy? Assume David did not lose his job and he still can afford the same monthly payment. Assume there is no inflation. Enter your answer without $ sign
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