Nancy Barber (nlbarber) wrote,
Nancy Barber
nlbarber

Mortgage payment adjusts

The annual mortgage interest adjustment letter arrived. I have a 30 year mortgage that had a fixed rate for 5 years, then became subject to annual adjustments. As interests rates have been fairly low over the 14 years I've had the loan, I've never bothered to shell out the fees to refinance to a fixed rate.

Won't happen this year either: Previous index: 4.92%. Current index: 1.52%

Thanks to this and to regular additional payments on the principal, the monthly payment dropped 19%. I will, of course, adjust the additional payments on principal upward to keep my monthly payment the same as it has been.
Tags: money
Subscribe

  • Florence, day 3

    We started the day on the south side of the river at the Pitti Palace, a de Medici palace, though the bought it from Luca Pitti and added on. It's at…

  • Florence, day 2

    Breakfast about the same as yesterday, though we discovered that if you can manage to catch one of the staff, you can ask for espresso, capuccino, or…

  • Florence, day 1

    Hotel breakfast was adequate, but again a step or two down from previous hotels. No hot items, smaller selection of cold meats, cereals, and…

  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 6 comments