For many homeowners and aspiring homebuyers, assessing the cost of a mortgage can sometimes feel confusing or overwhelming. However, taking mortgage expenditures into account often requires a greater context. Did you know that the world’s most expensive steak actually costs more than a typical home mortgage? According to a story by Eater.com, a 15-year aged steak from France is currently priced at $3,200.
Let’s put that into perspective. While a mortgage rate is dependent on various factors including age, income, interest, and initial down payment, the average monthly home mortgage costs less than $2,000. In more specific terms, the graphs below can help provide a clearer representation of typical mortgage payments for different types of U.S. homeowners:
(Graphs by Brian Stoffel)
So, what makes a steak so tantalizing that it can be priced above the average U.S. mortgage rate? Alexandre Polmard of Boucherie Polmard uses a special breed of cattle known as Blonde D’aquitaine. The meat of this particular breed undergoes an intensive aging process 15 years in the making. The aging process, otherwise known as the hibernation period, places the meat in a cold air ventilation system with below zero temperatures. Furthermore, the cattle are raised to live happy, stress-free lives prior to production, as many believe that certain stress factors in cattle can decrease the quality of taste and texture.
Good luck getting your hands on this prized cote de boeuf, however, as Mr. Polmard reserves his delectable selections exclusively for Boucherie Polmard and only two other restaurants in the world. The first is Caprice in Hong Kong and the other is La Terrace Mirabeau in Paris. Polmard recommends that anyone lucky enough to get their hands on a plate of this steak pair it with one of these luxurious fine wines:
- Côte Rôtie de chez Jamet
- Saint-Aubin Premier Cru
Moving back to the topic of mortgage rates, it is amazing to think that 2 or 3 months’ worth of mortgage payments can add up to the cost of just 1 steak (albeit an amazingly tasty steak)! This is just another reminder that it’s all about perspective.
Another fascinating example involves the world’s most expensive wines in the world. The 1992 Screaming Eagle Cabernet was sold in a 2000 auction for $500,000, while the Chateaux Margaux is currently being priced anywhere between $195,000-$225,000.
If you are looking to apply for a home loan, look no further than A and N Mortgage to guide you through every step of the process. Call for a free quote at (773) 305-LOAN, or get pre-approved online today at https://www.anmtg.com/faqs/.