Department of Economics, UMass Amherst, 21st mortgage.#21st #mortgage


Department of Economics

21st mortgage

Blueprint for a Progressive US: A Dialogue with Noam Chomsky and Robert Pollin

21st mortgage 21st mortgage

In an exclusive, wide-ranging interview with C.J. Polychroniou for Truthout, Noam Chomsky and UMass Economics Professor Robert Pollin tackle such issues as what an authentically populist, progressive agenda would look like in the Trump era; what a progressive U.S. would look like with regard to jobs, the environment, finance capital and the standard of living; and what a progressive U.S. would look like in terms of education and health care, justice and equality.

Noam Chomsky is professor emeritus of linguistics at MIT and laureate professor in the department of linguistics at the University of Arizona. Robert Pollin is distinguished professor of economics and co-director of the Political Economy Research Institute at the University of Massachusetts at Amherst. The interview is divided into three parts as follows:

M.V. Lee Badgett Named Spotlight Scholar for Her Work Fighting for LGBT Rights, Measuring the Cost of Discrimination

21st mortgage

“My first summer after grad school, I read an article in the Wall Street Journal about how wealthy the gay market was,” says Badgett, professor in the UMass Amherst Department of Economics and former director of the university’s School of Public Policy. “That didn’t mesh with the experience I’d seen.” Badgett’s research led her to data that confirmed her hypothesis: on average, gay and bisexual men earned between 11 and 27 percent less than their heterosexual counterparts. In other words, discrimination, not privilege, was the norm.

Badgett’s research was the first to look at LGBT realities through an economic lens. As an economist, she understood that money and power were intertwined. “I thought this was a really useful perspective to study issues of social justice,” she says. “It provided the tools to see what problems exist and the tools to make those problems better.” READ MORE

Paul Krugman Delivered the Philip Gamble Memorial Lecture on Thursday, October 26 at 6:00pm at the Mullins Center

21st mortgage

Nobel Prize-winning economist and columnist for The New York Times Paul Krugman delivered the annual Philip Gamble Memorial Lecture on Thursday, October 26 at 6:00pm at the Mullins Center. He spoke on “What’s the Matter with Economics?”

The full lecture can be viewed here:

Krugman joined The New York Times in 1999 as an op-ed columnist, and his column is currently published every Monday and Friday. He is also a distinguished professor at the City University of New York’s Graduate Center, where he is a fellow at the Stone Center for the Study of Socioeconomic Inequality.

In 2008, Krugman received the Nobel Memorial Prize in Economic Sciences for his work on international trade theory.

UMass Economics in the News

Robert N. Pollin, Distinguished Professor in economics and co-director of the Political Economy Research Institute, discusses why he believes investing in clean energy will produce both more jobs and a cleaner environment. He opposed moves by the Trump administration to roll back the Clean Power Plan put in place by the Obama administration. (The Real News Network, 10/13/17)

Paul Krugman, the Nobel Prize-winning economist and columnist for The New York Times gave the annual Philip Gamble Memorial Lecture Oct. 26 at the Mullins Center to an audience of more than 1,100 people. He says people are not as rational as many economists and contemporary economic models believe. Krugman says economic models that were used in the in the past that rely less on mathematical certainty are worth using because they are more accurate. (Gazette, Republican, 10/26/17; News Office assistance and release)

Gerald C. Friedman, economics, says critics of single-payer health care for the U.S. are missing an important point about the existing system, that is, that the U.S. is falling further and further behind other countries that currently provide health insurance. He says Americans pay four times as much for care as other comparable countries and life expectancy is 31 months shorter. Friedman also says while our health care system does come up with new technologies and cures, that isn’t helpful to people who don’t have access to care. (Huffiington Post, 10/18/17)

Gerald A. Epstein, economics and co-director of the Political Economy Research Institute, is interviewed about claims that the tax cut program being promoted by President Donald J. Trump and congressional Republicans will boost the economy or create jobs. He says tax cuts for the middle class could boost the economy because people will spend the extra money but what Trump and Republicans are pushing is a cut for the very top earners and not consumers or small businesses. Epstein argues there is little evidence that cutting taxes for the top 1 percent will do anything for the overall economy. (The Real News Network, 10/24/17)

A political news story about how Democrats in Congress are missing an opportunity to exploit the Trump administration’s efforts to dismantle environmental regulations related to climate change notes that Robert N. Pollin, Distinguished Professor in economics and co-director for the Political Economy Research Institute, has for years been making the argument that clean energy is a potent job creator, something conservatives don’t recognize or admit. (The Intercept, 10/23/17)


Mortgage Calculator Canada, Calculate Mortgage Payment, mortgage calculator online.#Mortgage #calculator #online


Mortgage Payment Calculator Canada

Our mortgage payment calculator calculates your monthly payment and shows you the corresponding amortization schedule. If you are purchasing a home, our payment calculator allows you to test down payment and amortization scenarios, and compare variable and fixed mortgage rates. We also help you calculate CMHC insurance and land transfer tax.

Purchase

Renewal or Refinance

Select rate

Make your calculator results reality

Secure a great mortgage rate and lock in your monthly mortgage payment now.

How to estimate mortgage payments

There are a number of factors that go into estimating how much your regular mortgage payments will be. The most important numbers are the total mortgage amount (the price of the home, less the down payment, plus mortgage insurance if applicable), the amortization period (the number of years the mortgage payments will be spread across), and the mortgage rate (the rate of interest paid on the mortgage).

To use the calculator, enter the purchase price, and select your amortization period and mortgage rate. Then you can see how your payment will be affected by the size of your down payment and frequency of payments. Our calculator also shows you what the land transfer tax will be, and approximately how much cash you’ll need for closing costs. You can also use the calculator to estimate your total monthly expenses, see what your payments will be if mortgage rates go up, and show what your outstanding balance will be over time. It is a good idea to use the calculator to determine what you can afford before you start looking at real estate listings.

If you’re renewing or refinancing and know the total amount of the mortgage, use the “Renewal or Refinance” tab to estimate mortgage payments without accounting for a down payment.

How to lower your mortgage payments

There are a few ways to lower your monthly mortgage payments. You can reduce the purchase price, make a bigger down payment, extend the amortization period (if your down payment is less than 20%, the maximum is 25 years), or choose a lower mortgage rate. Use the calculator above to try different variables to see what your payment will be with different scenarios.

Frequently Asked Questions

Is your mortgage payment calculator free?

Absolutely! Our calculators, website and rate comparisons are completely free for users. Ratehub.ca earns revenue through advertising. We promote the lowest rates in each province offered by brokers, and allow them to reach customers online.

Why does your monthly calculator have four columns?

We think it’s important for you to compare your options side by side. We start the calculator by outlining the four most common options for down payment scenarios, but you are not limited to those options. We also allow you to vary amortization period as well as interest rates, so you’ll know how a variable vs. fixed mortgage rate changes your payment.

How do payments differ by province in Canada?

While majority of the mortgage regulation in Canada is consistent across the provinces (minimum down payment 5%; maximum amortization period 35 years), there are some things that do vary. This table summarizes the differences:


Halifax Mortgage Calculator – Online Mortgage Rate Calculator, mortgage calculator online.#Mortgage #calculator #online


Mortgage Calculator.

Up to four people can be named on a mortgage but only two incomes are used, please select from the following:

Product not available

You’ve told us that you already have a mortgage with us and that you’re a first time buyer, please select from the following options:

Placeholder for actual error!

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Your results

New to the Halifax, moving house or looking to borrow more?

For interest rates on our Shared Ownership and Shared Equity Mortgages, along with the monthly repayment amounts on Interest only mortgages – book an appointment or call us on 0345 850 3705.

Outstanding Mortgage 0.00

Additional Borrowing 0.00

Total Loan Amount 00.00

What do these numbers mean?

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 127,450 PAYABLE OVER 30 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 3.14% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 25 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 547.99 FOLLOWED BY 300 MONTHLY PAYMENTS OF 598.99 .

THE TOTAL AMOUNT PAYABLE WOULD BE 212,872.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 85,422.60 ) AND A VALUATION FEE ( 355 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 153,000 PAYABLE OVER 25 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.28% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 20 YEARS , WOULD REQUIRE 60 MONTHLY PAYMENTS OF 669.56 FOLLOWED BY 240 MONTHLY PAYMENTS OF 780.71 .

THE TOTAL AMOUNT PAYABLE WOULD BE 227,974.00 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 74,974.00 ) AND A VALUATION FEE ( 430 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 125,000 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 2 YEARS AT 2.24% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 18 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 646.66 FOLLOWED BY 216 MONTHLY PAYMENTS OF 746.25 .

THE TOTAL AMOUNT PAYABLE WOULD BE 176,709.84 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 51,709.84 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 2 YEARS AT 1.69% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 18 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 451.39 FOLLOWED BY 216 MONTHLY PAYMENTS OF 545.83 .

THE TOTAL AMOUNT PAYABLE WOULD BE 128,732.64 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 36,862.64 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.09% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 15 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 468.68 FOLLOWED BY 180 MONTHLY PAYMENTS OF 534.91 .

THE TOTAL AMOUNT PAYABLE WOULD BE 124,404.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 32,534.60 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.09% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 15 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 468.68 FOLLOWED BY 180 MONTHLY PAYMENTS OF 534.91 .

THE TOTAL AMOUNT PAYABLE WOULD BE 124,404.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 32,534.60 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.


Mortgage Calculator, mortgage calculator online.#Mortgage #calculator #online


Mortgage Calculator

Mortgage calculator online

$1,115.57 / Month

Mortgages

A mortgage is a loan secured by a property usually a real estate property. A real estate mortgage usually includes the following key components:

  • Loan Amount the amount borrowed from a lender or bank. The maximum loan amount one can borrow normally correlates with household income or affordability. To estimate an affordable amount, please use our House Affordability Calculator.
  • Down Payment the upfront payment of the purchase, usually in a percentage of the total price. In the US, if the down payment is less than 20% of the total property price, typically, private mortgage insurance (PMI) is required to be purchased until the principal arrives at less than 80% or 78% of the total property price. The PMI rate normally ranges from 0.3%-1.5% (generally around 1%) of the total loan amount, depending on various factors. A general rule-of-thumb is that the higher the down payment, the more favorable the interest rate.
  • Loan Term the agreed upon length of time the loan shall be repaid in full. The most popular lengths are 30 years and 15 years. Normally, the shorter the loan term, the lower the interest rate.
  • Interest Rate the rate of interest charged by a mortgage lender. It can be “fixed” (otherwise known as a fixed-rate mortgage, or FRM), or “adjustable” (otherwise known as an adjustable rate mortgage, or ARM). The calculator above is only usable for fixed rates. For ARMs, interest rates are generally fixed for a period of time, after which they will be periodically “adjusted” based on market indices. ARMs transfer part of the risk to borrowers. Therefore, the initial interest rates are normally 0.5% to 2% lower than FRM with the same loan term. Mortgage interest rates are normally expressed in Annual Percentage Rate (APR), which is sometimes called nominal APR or effective APR. It is the interest rate expressed as a periodic rate multiplied by the number of compounding periods in a year. For example, if a mortgage rate is 6% APR, it means the borrower will have to pay 6% divided by twelve, which comes out to 0.5% in interest every month.

The most common way to repay a mortgage loan is to make monthly, fixed payments to the lender. The payment contains both the principal and the interest. For a typical 30-year loan, the majority of the payments in the first few years cover the interest.

Costs Associated with Mortgages and Home Ownership

Commonly, monthly mortgage payments will consist of the bulk of the financial costs associated with owning a house, but there are other important costs to keep in mind. In some cases, these costs combined can be more than the mortgage payments. Be sure to keep these costs in mind when planning to purchase a home.

Because the recurring costs perpetuate throughout the lives of mortgages (exception being PMI), they are a significant financial factor. Property Taxes, Home Insurance, HOA Fee, and Other Costs increase with time as a byproduct of moderate inflation. There are optional inputs within the calculator for annual percentage increases. Using these wisely can result in more accurate calculations.

  • Property Taxes a tax that property owners pay to governing authorities. In the U.S., property tax is usually managed by municipal or county government. The annual real estate tax in the U.S. varies by location, normally ranging from 1% to 4% of the property value. In some extreme cases, the tax rate can be 10% or higher.
  • Home Insurance an insurance policy that protects the owner from accidents that may happen to the private residence or other real estate properties. Home insurance can also contain personal liability coverage, which protects against lawsuits involving injuries that occur on and off the property. The cost of home insurance varies according to factors such as location, condition of property, and coverage amount. Typically, the annual cost can range from 0.1% to 5% of the property value.
  • Private Mortgage Insurance (PMI) protects the mortgage lender if the borrower is unable to repay. In the U.S. specifically, if the down payment is less than 20% of the property value, the lender will normally require the borrower to purchase PMI until the loan-to-value ratio (LTV) reaches 80% or 78%. PMI price varies according to factors such as down payment, size of the loan, and credit of the borrower. The annual cost typically ranges from 0.3% to 1.5% of the loan amount.
  • HOA Fee a fee that is imposed on the property owner by an organization that maintains and improves property and environment of the neighborhoods that the specific organization covers. Common real estate that requires HOA fees include condominiums, townhomes, and some single-family communities. Annual HOA fees usually amount to less than one percent of the property value.
  • Other Costs includes utilities, home maintenance costs, and anything pertaining to the general upkeep of the property. Many miscellaneous costs can be deceptively high and it is important to consider them in the big picture. It is common to spend 1% or more of the property value on annual maintenance alone.

While these costs aren’t contained within calculations, they are still important to keep in mind.

  • Closing Costs the fees paid at the closing of a real estate transaction. It is not a recurring fee yet it can be expensive. In the U.S., even though not all are applicable, the closing cost on a mortgage can include attorney fee, title service cost, recording fee, survey fee, property transfer tax, brokerage commission, mortgage application fee, points, appraisal fee, inspection fee, home warranty, pre-paid home insurance, pro-rata property taxes, pro-rata homeowner association dues, pro-rata interest, and more. Sellers will share some of these costs. It is not unusual for a buyer to pay $10,000 in total closing costs on a $300,000 transaction.
  • Initial Renovations Some buyers invest money into renovations, features, or updates before moving in. Examples may be changing the flooring, repainting the walls, or even adding a patio.

Besides these, new furniture, new appliances, and moving costs are also common non-recurring costs of a home purchase.

Early Repayment and Extra Payments

For many situations, mortgage borrowers may want to pay off mortgages earlier rather than later, either in whole or in part, for reasons including but not limited to interest savings, home selling, or refinancing. Most mortgage lenders allow borrowers to pay off up to 20% of the loan balance each year but few may have prepayment penalties for one-time payoffs, mainly to prevent refinancing too soon (which will affect the lender’s profit). One-time payoff due to home selling is normally exempt from a prepayment penalty. The penalty amount typically decreases with time until it phases out within 5 years. Few lenders charge prepayment penalties regardless of home-selling or refinancing, but be sure to review the loan terms carefully anyway just in case.

Some borrowers may want to pay off their mortgage loan earlier to reduce interest. Typically, there are three ways to do so. The methods can be used in combination or individually.

  1. Refinance to a loan with a shorter term Normally, interest rates of shorter term mortgage loans are lower. Therefore, borrowers not only repay their loan balances faster, but receive lower and more favorable interest rates on their mortgages. Keep in mind that this imposes higher financial pressure on the borrower due to higher monthly mortgage payments. Also, there may be fees or penalties involved.
  2. Make extra payments the majority of the earliest mortgage payments will be for interest instead of principal on typical long-term mortgage loan. Any extra payments will decrease loan balances, therefore decreasing interest and pay off earlier in the long run. Some people form the habit of paying extra every month, while others pay extra whenever they can. There are optional inputs to include many extra payments, and it can be helpful to compare the results of supplementing mortgages with extra payments and without.
  3. Make biweekly (once every two weeks) payments of half month’s payment instead Since there are 52 weeks each year, this is the equivalent of making 13 months of mortgage repayments a year instead of 12. Utilizing this method, mortgages can be paid off earlier. Displayed in the calculated results are biweekly payments for comparison purposes.

The Calculator has the tools to help evaluate the options. Please be aware that the rates on mortgages tend to be very low compared with other types of loans. Also, mortgage interest is tax-deductible, and home equity accumulated may be counted against borrowers when applying for need-based college aid. Be sure to consider comprehensively before paying off mortgage loans earlier.


Halifax Mortgage Calculator – Online Mortgage Rate Calculator, mortgage calculator online.#Mortgage #calculator #online


Mortgage Calculator.

Up to four people can be named on a mortgage but only two incomes are used, please select from the following:

Product not available

You’ve told us that you already have a mortgage with us and that you’re a first time buyer, please select from the following options:

Placeholder for actual error!

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Your results

New to the Halifax, moving house or looking to borrow more?

For interest rates on our Shared Ownership and Shared Equity Mortgages, along with the monthly repayment amounts on Interest only mortgages – book an appointment or call us on 0345 850 3705.

Outstanding Mortgage 0.00

Additional Borrowing 0.00

Total Loan Amount 00.00

What do these numbers mean?

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 127,450 PAYABLE OVER 30 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 3.14% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 25 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 547.99 FOLLOWED BY 300 MONTHLY PAYMENTS OF 598.99 .

THE TOTAL AMOUNT PAYABLE WOULD BE 212,872.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 85,422.60 ) AND A VALUATION FEE ( 355 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 153,000 PAYABLE OVER 25 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.28% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 20 YEARS , WOULD REQUIRE 60 MONTHLY PAYMENTS OF 669.56 FOLLOWED BY 240 MONTHLY PAYMENTS OF 780.71 .

THE TOTAL AMOUNT PAYABLE WOULD BE 227,974.00 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 74,974.00 ) AND A VALUATION FEE ( 430 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 125,000 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 2 YEARS AT 2.24% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 18 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 646.66 FOLLOWED BY 216 MONTHLY PAYMENTS OF 746.25 .

THE TOTAL AMOUNT PAYABLE WOULD BE 176,709.84 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 51,709.84 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 2 YEARS AT 1.69% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 18 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 451.39 FOLLOWED BY 216 MONTHLY PAYMENTS OF 545.83 .

THE TOTAL AMOUNT PAYABLE WOULD BE 128,732.64 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 36,862.64 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.09% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 15 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 468.68 FOLLOWED BY 180 MONTHLY PAYMENTS OF 534.91 .

THE TOTAL AMOUNT PAYABLE WOULD BE 124,404.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 32,534.60 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.09% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 15 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 468.68 FOLLOWED BY 180 MONTHLY PAYMENTS OF 534.91 .

THE TOTAL AMOUNT PAYABLE WOULD BE 124,404.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 32,534.60 ).

WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.


City Of Firsts Community FCU, todays mortgage rates.#Todays #mortgage #rates


todays mortgage rates

Todays mortgage rates

Serving YOU in the communities of

Howard and Tipton counties.

Todays mortgage rates

Todays mortgage rates Todays mortgage rates Todays mortgage rates Todays mortgage rates Todays mortgage rates

Todays mortgage rates

Todays mortgage rates

APR=Annual Percentage Rate

APY=Annual Percentage Yield

11-15-2017 – Holiday Hours: Closed Thanksgiving 11-23-17. Closed Friday 11-24-17. Closed Christmas Day 12-25-17.

11-15-2017 – 2017 Giving Tree: Please share your warm spirit with new gloves, mittens, hats, and scarves to our 2017 Giving Tree. Need to collect by 11-30-2017. Your warm heart will warm those in our community! Many, many thanks!

09-18-2017 – Is your Contact Info up to date?: Its very important that you always keep your account(s) at the Credit Union up to date with your current address & phone numbers. In the event a suspicious transaction hits your account by ATM/Debit/VISA Card, is there a way for our fraud department or us to contact you? If you are unsure visit or contact any of our locations to verify that it is.

09-18-2017 – Holiday Loan Special: Holiday Loan Special available October through December. Rates as low as 5%! Stop in or apply online.

08-04-2017 – Traveling with ATM/Debit Card: Due to high level of debit card fraud activity, there are several areas of travel which debit card use is restricted. In order to avoid any issues with your card when traveling, please inform us of the areas ( ?>

Halifax Standard Variable Rate (SVR) Mortgages, mortgage rate tracker.#Mortgage #rate #tracker


Halifax Standard Variable Rate (SVR)

Mortgage rate trackerWhen your Halifax mortgage reaches the end of its deal period, you’ll be placed onto the current standard variable rate (SVR), which they term the Halifax Homeowner Variable Rate.

There are no current products that you can apply for just on SVR. Even the Halifax tracker mortgages track the Bank of England base rate rather than the Halifax mortgage rate.

Current Halifax Bank SVR

The current standard variable rate for Halifax Mortgages is 3.74% which is is slightly higher than the industry average and 3.49% above the BOE base rate.

Choosing a Halifax Mortgage and SVR

Although the lead rate from a Halifax mortage deal may look low it’s actually the standard variable rate or SVR that’s charged once your 2 or 3 year offer has completed which is probably the most important number to look at these days.

If your circumstances change between when you take out a product to when you may need to renew it several years later then you may not be in a position to get similar terms, especially if house prices have fallen and you are in negative equity or simply your loan to value percentage has increased. For example, if you lose your job or you have a child and one parent does not work any longer.

That’s just the reason why lenders publish an APR because this takes into account the initial generally discounted rate as well as the SVR for the term of the mortgage loan.

Whilst the initial rates offered by Halifax are actually some of the best deals in the industry and market place you should perhaps consider not only the arrangement fees that are now charged by all lenders, the repayment penalties if you decide to pay off your loan or have to move house but also the standard variable rate you may have to pay if you don’t remortgage once your deal period has completed.

Seek Professional Advice

With so many products on the market it may be easy to choose the lowest headline rate but once you have added in arrangement fees and any additional charges the rates offered by all companies including Halifax may push up the actual cost of the mortgage. Therefore it may be prudent to either use a comparison website and certainly to get professional advice to help your decision making process.


Rural USDA Home Loan, Rural Housing Loan Service Center for USDA guaranteed home loan purchase


Rural Housing Service Center

USDA Approved Lender

Government Program Specialists

RANLIfe Financial Center

RURAL LOAN PROGRAMS

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Home loan Refinance

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RANLife is a USDA, FHA, VA FNMA and FHLMC approved lender.

RANLife is not affiliated with USDA or any other government entity.

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RANLife Rural Housing Loan Service Center

The USDA Guaranteed Loan Program is a federal program offered through the United States Department of Agriculture. Rural Housing through the USDA program provides a number of homeownership opportunities to rural Americans, as well as programs for home renovation and repair. This is an excellent product and benefit for those individuals that qualify. Rural Housing also offers 100% financing opportunities for those who qualify.

Rural Housing loans are now easier to qualify and are a financially secure option for home financing regardless of your situation.

Home loan

Common USDA Qustions

  • Does an USDA Home Loan have mortgage insurance?
  • How much can I borrow on a USDA Loan?
  • How can I determine if I qualify for a USDA Home Loan?
  • What are my USDA refinancing options?

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**NOTICE A70: RANLife Home Loans is funding the USDA Pilot Program. This program allows you to skip a mortgage payment, lower your interest rate by more than a percentage point, and you don’t have to get a home appraisal. Call a representative to see if you qualify 800.461.4152.**

Home loan

There are several advantages to using USDA’s Home Loan Program.

  • USDA 100% Financing
  • Low Monthly Mortgage Insurance(MI)with a USDA loan
  • Low USDA Mortgage Interest Rates
  • USDA Low Closing Costs
  • USDA Zero Down Payment.
  • Easy Credit Qualifying with USDA
  • Never a Pre-payment Penalty with USDA

Thinking of Buying a Rural Home?

Did You Know?

Did you know that even with the advent of a low monthly mip premium usda payments are still significantly lower than an FHA loan that has a minimum of a 3.5% down payment?

USDA Rural Home Purchase?

Whether you are buying your first home or looking to move up the USDA Home Loan Purchase Program is one of the best purchase programs available today for our rural communities. Click on the USDA Purchase Application to see if you qualify.

USDA Rural Home Refinance?

If you bought your home through a USDA home purchase program then you are eligible for a USDA home streamline refinance. Call a program representative at 800.461.4152, or fill out the quick online refinance application on the left, to see if you home qualifies.

**NOTICE B68: RANLife Home Loans is still funding USDA Home Purchase Loans. Call a representative to see if you qualify 800.461.4152.**2.07.2013

**NOTICE C68: RANLife Home Loans continues to lock USDA Refinance Loans. Call a representative to see if you qualify 800.461.4152.**2.07.2013

**NOTICE B43: RANLife Home Loans still allows the funding of a USDA renovation loan. Call a representative to see if you qualify 800.461.4152.**02.09.2012

**NOTICE B41: Major Lenders will stop funding USDA Loans over the next few of months. RANLife Rural Home Loan will continue to fund USDA Home Loans. In 2010 most lenders stopped funding USDA Loans during October, November and December. In 2010 RANLife never stopped funding its USDA Loan Program. Call a representative to see if you qualify 800.461.4152.12.1.11**

*NOTICE C10: USDA Monthly MIP. If you don’t have a conditional commitment from USDA by 9/30/2011 you will be forced to have monthly mortgage insurance on your USDA Loan. RANLife can close your home purchase loan fast. Call a RANLife Rural Home Loans representative to get your USDA loan expedited today.7.1.11**

**NOTICE A40: USDA will be changing its USDA eligible areas based on the new 2010 census bureau. Does your area now qualify? Is your area going to be discontinued from the USDA guarantee? Call a RANLife Rural Home Loans representative to see if your area will still qualify.1.11**

**NOTICE A30: RANLife Rural Home Loans is now offering a USDA Renovation Loan. Now you can obtain financing and include home improvements into one USDA Home Loan.**

**NOTICE A20.1: As the mortgage lending industry continues to stop and start USDA funding RANLife Rural Home Loans has maintained funding for USDA Rural Housing Purchase Loans throughout the entire year of 2010 and is committed to providing USDA home loan funding throughout 2011.**

**NOTICE B40: RANLife Rural Home loans has continued to fund the refinancing of USDA Home Loans. Call a representative to see if you qualify 800.461.4152.**


Schwab Market Update, Charles Schwab, todays mortgage rates.#Todays #mortgage #rates


Schwab Market Update

U.S. stocks rallied during Thursday’s trading session, bouncing back from a two-day slide as European shares also snapped a string of losses. Favorable earnings reports from Dow members Wal-Mart and Cisco Systems, along with upbeat industrial production and homebuilder sentiment reads aided in boosting equity gains. Treasury yields rebounded and the U.S. dollar ticked slightly higher, along with gold, while crude oil prices were lower.

The Dow Jones Industrial Average (DJIA) advanced 187 points (0.8%) to 23,458, the S P 500 Index jumped 21 points (0.8%) at 2,586, and the Nasdaq Composite rallied 87 points (1.3%) to 6,793. In moderate volume, 776 million shares were traded on the NYSE and 2.0 billion shares changed hands on the Nasdaq. WTI crude oil declined $0.19 to $55.14 per barrel and wholesale gasoline was $0.03 lower at $1.71 per gallon. Elsewhere, the Bloomberg gold spot price ticked $0.59 higher to $1,278.66 per ounce, and the Dollar Index—a comparison of the U.S. dollar to six major world currencies—advanced 0.1% to 93.93.

Dow member Wal-Mart Stores Inc. (WMT $100) reported Q3 earnings-per-share (EPS) of $0.58, or $1.00 ex-items, versus the $0.97 FactSet estimate, as revenues rose 4.2% year-over-year (y/y) to $123.2 billion, above the projected $121.1 billion. Q3 same-store sales at Walmart grew 2.7% y/y, topping the expected 1.9% gain. The company raised its Q4 EPS outlook and issued same-store sales guidance that was slightly above expectations. Shares traded sharply higher.

Dow component Cisco Systems Inc. (CSCO $36) posted fiscal Q1 earnings of $0.48 per share, or $0.61 ex-items, with revenues decreasing 2.0% y/y to $12.1 billion, roughly in line with expectations. CSCO issued Q2 guidance that exceeded forecasts. Shares rallied.

Best Buy Co. Inc. (BBY $55) announced Q3 EPS of $0.78, matching projections, as revenues rose 4.2% y/y to $9.3 billion, below the expected $9.4 billion. Q3 same-store sales increased 4.4% y/y, below the forecasted 4.9%. BBY issued Q4 earnings guidance that was below estimates, while its sales outlook was mostly in line with expectations. The company raised its full-year guidance. Shares fell.

Homebuilder sentiment and industrial production top forecasts

The National Association of Home Builders (NAHB) Housing Market Index showed homebuilder sentiment this month unexpectedly improved to an eight-month high of 70, versus the Bloomberg forecast calling for a dip to 67 from October’s unrevised 68 level. The index sits decisively above the 50 mark, the point of separation for good versus poor conditions. The NAHB said builder confidence is close to a post-recession high—a strong indicator that the housing market continues to grow steadily—but its members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases.

Tomorrow, the economic calendar will bring a look at housing construction activity in the form of housing starts and building permits, with starts projected to rise 5.6% month-over-month (m/m) to an annual rate of 1,190,000 units and permits expected to increase 2.0% to a 1,250,000 unit rate. Schwab’s Director of Market and Sector Analysis, Brad Sorensen, CFA, notes in his latest, Schwab Sector Views: ‘Tis the Season…Almost, mortgage demand appears to be healthy, while interest rates continue to be relatively low and the high rental rates in some areas of the country provide incentive for home buying.

Industrial production (chart) rose 0.9% month-over-month (m/m) in October, above estimates of a 0.5% gain, after September’s upwardly revised 0.4% increase. Manufacturing and utilities production both grew solidly, while mining output dropped. Capacity utilization rose to 77.0% from the prior month’s upwardly revised 76.4% rate, and compared to forecasts of 76.3%. Capacity utilization is 2.9 percentage points below its long-run average. Industrial production has gained 2.9% over the past 12 months, and Schwab’s Chief Investment Strategist Liz Ann Sonders notes that capex may be in for an even sharper recovery in her article, Takin Care of Business: Several Important Kickers for a Strong Capex Cycle.

Weekly initial jobless claims (chart) surprisingly rose by 10,000 to 249,000 last week, versus the Bloomberg forecast of a decrease to 235,000, with the prior week’s figure being unrevised at 239,000. The four-week moving average grew by 6,500 to 237,750, while continuing claims fell 44,000 to 1,860,000, south of estimates of 1,900,000.

The Philly Fed Manufacturing Index (chart) in November declined more than expected to 22.7 from 27.9 in October, but a reading above zero indicates expansion. This compared to estimates of a decline to 24.6.

The Import Price Index (chart) rose 0.2% m/m for October, below projections of a 0.4% gain, following September’s upwardly revised 0.8% rise. Compared to last year, prices were up by 2.5%, in line with forecasts and compared to September’s unrevised 2.7% increase.

Treasuries finished lower, with the yield on the 2-year note gaining 3 basis points (bps) to 1.71%, the yield on the 10-year note increasing 5 bps to 2.37%, and the 30-year bond rate advancing 6 bps to 2.82%.

Treasury yields and the U.S. dollar rebounded somewhat from recent pressure that came from a flare-up in global risk aversion on the heels of the world stock market rally as of late. Festering U.S. tax reform uncertainty—today the House passed its bill to overhaul the tax code, which has some significant differences from the Senate’s version—has fostered the change in conviction. This has countered a relatively positive economic landscape, while recent soft Chinese economic data and market skittishness as the yield curve has flattened have exacerbated sentiment. As such, check out our article, Does Low Market Volatility Portend a Market Tumble?, as well as Schwab’s Vice President of Legislative and Regulatory Affairs, Michael T. Townsend’s latest commentary, Tax Reform: Key Differences Between the Senate and House Plans.

Tomorrow’s domestic docket will also yield the November Kansas City Fed Manufacturing Index, forecasted to dip to 21 from 23 in October, though a reading above 0 indicates growth in activity.

Europe recovers on data, Asia rebounds from recent slide

European equity markets traded higher, rebounding from the recent string of losses that has come from an apparent change in global sentiment to de-risking, while disappointing Chinese economic data as of late has weighed on commodity-related stocks. Some upbeat earnings data in the region teamed up with a rebound in eurozone new car registrations to support the recovery in the markets, while the energy sector remained under pressure as crude oil prices extended a recent selloff. Eurozone consumer price inflation rose in line with forecasts. The euro declined versus the U.S. dollar and the British pound rose following a better-than-expected U.K. retail sales report, while bond yields in the region finished mixed. Gains for Italian stocks and Europe’s financial sector were limited by a drop in shares of Italy’s banks. As noted in the latest Schwab Market Perspective: Incredible, Amazing…Unstop-a-bull?, momentum favors the bulls for the foreseeable future, but elevated valuations and growing investor complacency pose risks that could lead to a long-awaited pullback and/or a pickup in volatility from today’s extremely low base.

Asian stocks mostly rebounded from the recent pullback, with the yen giving back some of its gains seen as of late as the global markets have stumbled amid a flare-up in risk aversion, while overnight stabilization in crude oil prices helped the energy sector recover somewhat. Japanese equities rallied, while Australian securities were also higher, with a softer-than-expected read on the nation’s employment growth limiting gains. Mainland Chinese shares dipped and stocks trading in Hong Kong advanced with the recent soft economic data being met with some upbeat earnings results. Indian equities gained ground and South Korean shares advanced. Schwab’s Chief Global Investment Strategist Jeffrey Kleintop, CFA, offers a look at the global market rally seen this year that has been fostered by the broadest economic growth in a decade in his latest article, 5 Reasons Investors Should Give Thanks.

International economic releases for tomorrow will be light, with new vehicle sales from Australia and the current account and construction output from the Eurozone.

Schwab Center for Financial Research – Market Analysis Group

©2017 Charles Schwab Co., Inc., Member SIPC. All rights reserved.

Next Steps

See all our articles and videos from our Schwab experts on the Market Commentary page.

Follow Liz Ann Sonders, Jeffrey Kleintop, Randy Frederick, Kathy Jones and Schwab on Twitter: @lizannsonders, @jeffreykleintop, @kathyjones, @randyafrederick, and @schwabresearch.

Talk to us about the services that are right for you. Call our investment professionals at 800-435-4000.

Todays mortgage rates


Best Mortgage Rates 5-Year Fixed – Compare Today – s Current 5-Year Fixed Rates, mortgage


5-Year Fixed Mortgage Rates

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Historical 5-Year Fixed Mortgage Rates From 1973 – Today

5-year fixed mortgage rate defined

The ‘5’ in a 5-year mortgage rate represents the term of the mortgage, not to be confused with the amortization period. The term is the length of time you lock in the current mortgage rate, while the amortization period is the amount of time it will take you to pay off your mortgage. The term acts like a reset button on your mortgage, at which point you must renew the mortgage at a rate available at the end of the term. So, for example, a typical mortgage has a 5-year term and a 25-year amortization period.

When the mortgage rate is ‘fixed’ it means that the rate (%) is set for the duration of the term, whereas with a variable mortgage rate, the rate fluctuates with the market interest rate, known as the ‘prime rate’. So, for example, if the 5-year fixed mortgage rate is 4%, then you will pay 4% interest throughout the term of the mortgage.

An interesting feature of the 5-year fixed mortgage rate is that all borrowers must meet its standards of approval even if they choose a mortgage with a lower interest rate and shorter term. This benchmark is applied not only to reduce risk for the lender, but to give the borrower some breathing room.

Popularity of 5-year fixed mortgage rates

A 5-year mortgage term, at 66% of all mortgages, is by far the most common duration. It sits right in the middle of available mortgage term lengths, between one and 10 years, and, thus, its popularity reflects a risk-neutral average.

A further breakdown of mortgage terms shows that an additional 8% of mortgages have terms exceeding five years, while 26% of mortgages have shorter terms, including 6% with one year or less and 20% with terms from one year to less than four years.

Fixed rates are also most common, representing 66% of total mortgages as well. In terms of age dispersion, fixed rate mortgages are slightly more common for the youngest age groups, and older age groups are more likely to choose variable rate mortgages.