Steadfast Finances
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Interest Rates So Low Mortgage Calculators are Useless
Now that interest rates on 15 year mortgages are at record lows just under 4.0% (Zillow rate today is 3.88%), I find it amusing that mortgage calculators on a few of the most popular commercial real estate websites are now useless.
For whatever reason, the lowest interest rate Realtor.com will allow in their preprogrammed mortgage calculators is 4.0% (see red highlight).
I suppose no one but a few deflation hawks expected U.S. debt (Treasury Bonds) to be the best looking horse at the glue factory.
[Screenshot from Realtor.com]
2 Comments
Jul 24, 20108:41 am
Funny. This was a “made you look” moment for me.
I looked to see the highest rate (10-7/8) and the terms offered (5/10/15/30).
You’d think that with ARMs starting as low as 1%, they’d have just offered a “fill in the box” calculator instead of the archaic dropdown.
Me? I’m still a fan of excel/openoffice and having the spreadsheet right there for unlimited what-ifs.
12:46 am
That is pretty useless. But if you google “mortgage calculator” u can find plenty which u can just input the rate.