The mortgage rates above present the Freddie Mac mortgage rates for various mortgage products. The table shows the current rate as well as previous rates for the previous day, week, month or year. You will also see the basis points change in the current mortgage rate in relation to each of the previous rates.
By clicking on a item, you can view a historical chart for that item. The historical mortgage rates will be graphed for either a week, a month, a year or 3 years depending on your selection.
The mortgage calculator allows you to compute an estimate of your monthly mortgage payment as well as providing the ability to generate an amortization schedule of the mortgage payments. The calculator will take as inputs details of a mortgage such as the Annual interest rate (APR) the loan term in years, any real estate taxes, home insurance and private mortgage insurance (PMI) information.
Using this information the calculator will present your monthly payments involved with either your principal and interest, your taxes, insurance and PMI and the total monthly payments.
You can also generate an amortization schedule of your mortgage that will break your payments down by month, showing how much of your payment will go off your principal verse the interest for each month as well as the remaining mortgage balance.
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The Mortgage Refinance Calculator allows you evaluate the option of refinancing your mortgage. The calculator takes as input, details about your current mortgage and a refinancing option you might be looking at, such as the two different interest rates, your principal balance, your current monthly payment and any closing costs.
The calculator will then compute your new monthly payment if you were to refinance, any reduction you might observe in your monthly payment as well as details about the interest savings involved and how long until your interest savings will offset the closing costs of your current mortgage.
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It is important to understand that these calculators are general calculators that are for information purposes only. Any given financing option you might be looking at may have specific details relating to the costs or savings involved that may not be accounted for by these calculators. As such, the calculators should be used only to get an initial indication of the potential feasibility of a mortgage option and you should always have a professional evaluate the payments, costs and conditions involved with any specific financing option you might consider.