A 30-year fixed rate-mortgage is available now at 5% APR. Monthly payments (360 of them) will be made on a $250,000 loan, The realtor says that if you wait several months to obtain a mortgage, the APR could be as high as 6%, and the monthly payments will jump by 20%. Is the realtor?s claim true? If not, what percent increase in monthly payment will result from this 1% increase in APR? The increase in monthly payment will be 1%. (Round to one decimal place.)