mortgage interest

Dynamic Interest Rates

Dynamic Interest Rates

WOW!  One of my buyers locked an interest rate of 3.85%! Interest rates, just like stock, are extremely dynamic and constantly changing.  With the housing economy bouncing back after a 5 year dry spell, interest rates have climbed in response.  Last summer 2013 we watched rates climb steadily and then all at once – in the span […]

Amortization

Amortization

What is amortization? Amortization shows the amount of interest and the amount of principle balance paid in a single loan payment (i.e., what your monthly mortgage payment is really paying for).  This percentage changes over time so that the interest portion of your payment decreases as the loan balance decreases.  At the same time, the […]