Home mortgage interest rates today

Home Loan Calculator Home loan calculators. We’ve all heard of them, and some people have even made use of them in the past, but there are some that still do not know what they are and what they are used for. For those that do not know, these calculators can either be called home loan calculators or mortgage calculators, but the generally accepted name in South Africa is home loan calculators. Also, for those that do not know, they are not physical calculators like the ones you used in school for math test, nor can you carry one around in your pocket, since they are in the form of software either installed on a device or online.

Home loan calculators were created in order to aid you, as a person with a home loan or looking to get a home loan, to get more particulars about the repayment term, total amount to be repaid and all of the other variables that go along with home loans. To get more complex, they are software designed to run through formulas in order to get an answer with the variables given, exactly like a normal calculator, but to a different purpose. Obviously, there are many different kinds of home loan calculators, each for a different purpose.

The first kind that you will find is the one that is an affordability home loan calculator and this is designed to give you an idea of what you are able to afford. You should keep in mind that you may not use your entire disposable income to pay for your home loan, depending on what percentage of your income is disposable, which is why you should use this calculator in order to see what you are able to afford. Of course, you should do this before looking at homes, since you need a price range, and this calculator will give you one.

The additional payment calculator is a rather common one and it is used to see how much you will save on interest and by how much you can shorten our repayment term if you make an extra payment each month. You will be required to enter the total loan amount, interest rate, how much extra you will be paying each month and, in some cases, the repayment term of the loan.

The loan term calculator is an important one since it will show you the ideal repayment term for you. You will be entering the loan amount, interest rate and the amount that you want to pay each month and it will give you an idea of how long your home loan repayment term will be.

The monthly repayment calculator is probably the most important one because this is the first one people come to when considering buying a home. This calculator will ask you to enter the loan amount, repayment term and the interest rate in order to calculate and show you how much you will have to pay each month.


VDM Verlag The Determination of Home Loan Interest Rates: and an Empirical Assessment of their Cyclicality and Seasonality
Book (VDM Verlag)

Rising Mortgage Rates Bringing More Buyers!

2013-06-30 10:22:03 by agg


he National Association of Realtors® (NAR) said today that rising interest rates may finally be forcing many hesitant buyers into the market. NAR's Pending Home Sales Index (PHSI) which is based on home purchase contracts, reached the highest in May that it has achieved since late 2006. NAR also announced it was upgrading its price forecast for 2013.
NAR's chief economist Lawrence Yun said the recent rising interest rates may be creating a fence-jumping effect. "Even with limited choices, it appears some of the rise in contract signings could be from buyers wanting to take advantage of current affordability conditions before mortgage...

FORTUNE – Mortgage interest rates have been rising on signs that the U.S. economy is improving. Last week, the 30-year fixed rate reached the highest level in more than six months, climbing to an average of 3.63%, compared with 3.52% the previous week and 3.92% a year earlier. The current rate is the highest it's been since the week of Aug. 23 when the 30-year fixed rate averaged 3.63%, according to Freddie Mac.
With economic prospects improving, rates could rise even higher this year. This increase could mathematically make buying a home more expensive, but it's unlikely to stall the housing recovery

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McGraw-Hill How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances
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