[quote=doofrat]Thanks FSD. I hadn’t thought about the fact that the payment is the same each month over the life of the loan, so the effect of the interest portion of the payment is spread across so many years.[/quote]
No problem.
Also note that as the interest rate increases, so does the tax-deductible portion of the payment. SO the impact of an increase from 4-5% may be less than the 12% increase in before tax payment posted above. (but depends on individual situations).
