Mortgage Interest Rates | Housing | Finance & Capital Markets | Khan Academy
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- เผยแพร่เมื่อ 8 มิ.ย. 2011
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Understanding how mortgage interest rates are quoted. Created by Sal Khan.
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Finance and capital markets on Khan Academy: Most people buying a home need a mortgage to do so. This tutorial explains what a mortgage is and then actually does some math to figure out what your payments are (the last video is quite mathy so consider it optional).
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It is in reality way more complicated than his teaching but it has the general ideas and concepts of market rates. Two thumbs up for Khan. Thank you.
Thank so much for such an easy-to-understand explanation!
I am flooded with so many questions over here.
Thank you Khan for doing this video and all that you do.
Thank you!
excellent explanation--very easy to follow!
you are so helpful! thank you!! :)
Im home-schooled,and Sal,You do better for me than a tutor,text-book,Or one of them stupid DVD's that seem like they are for 6 year olds....It feels like he talking TO you and he knows what questions you have to ask,AND HE ANSWERS THEM...I never got an answer back from my textbook when I asked What does (that ?>>>?>?) Mean???? Thanks!
Keep up the good work, Sal! You're on the right path. I certainly welcome that video
Thank you Universe !
So easy to understand. Thanks for your help
Sal.. It would be of immense help if you do some videos in micro and macro economics..
I am in quarantine with you.
Is there anyway we can see some calculations?
Thank you! It helped for my finance test
What place does the rate have in this video besides the board?
in mortgage loan which interest rate should we go for floating or fixed.. please advise sir
interesting
XBR4Da nice
Keep on it
Thanks for the teaching. Can u (or anyone reading) pls explain y does the bank refer to the government 10 year treasury rates and charges higher interest than it? Is it because the banks want to make more money than the government?
What is the positive to a 5/1 arm? Could the payments go down? Could this also be dependent on fico score or what if you make extra payments towards the principal? Could these still increase your monthly cost after the 5 years even though you’ve been a good borrower?
This still doesn’t explain how the interest works
Impressive pic
If one have to pay 2K per month in which 200 will be the principal. It is understood. But if I pay 200 extra, in that month, would that be added straight into the principal or do they cut the interest from that extra money as well?
straight to the principal amigo. Ive done it before. You must inform the bank tho with the additional $200, that it is to be deducted from principal and not interest.
Video would be much better if the numbers used were consistent.
So the typical mortgage period in usa is 30 years? That's crazy.
But what is insane is that in Sweden many ppl only pay the interest.
@Hokke88 What's normal in your country?
How do you calculate the mortgage payment of 5 percentage fixed for 30 years or 15 years
Spending most of the monthly payment on paying the interest and not the loan seems very predatory to me.
All loans should work by borrowing a fixed sum and paying a fixed interest amount. E.g You borrow 100 000 dollars and agree to pay the bank 10 000$ as a fee for giving the loan.
Then, your monthly payment would be 110 000 / 30 years.
Yup. Agreed. But whenever I buy a house, for the first 7 years I will try give extra every month that only attacks the principal
What if in ARM we able to pay all mortgage in 5 years term ?
p.s. when i have posted this link on the facebook it said:
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So tell me...., how much interest is paid on the first 30 years loan? Just the interest.
The first 5 years you pay more interest than principal
$2000 is way higher that it would be.
First
Where can I get a house for $200k!!!
Texas , Arizona get into trucking you can have a job anywhere
Thank you @joecappa for bringing me here
let's say that, let's say that, let's say that.....
So I followed through the entire 14:17 minutes, and you still have not explained what is a interest rate.
Interest - the fee charged for borrowing money. APR (Annual Percentage Rate) - a uniform measurement of the cost of a loan, including interest & financed costs of closing, expressed as a yearly percentage rate.
Shawn thank you
@@ShawnFreshley how does the loan update as extra payments are made?
In reality ...the house is never yours ...even if it's paid off ..you have city tax to pay...if you don't pay that ..city takes it away from you
dear people banks are fucking with you big time.
O
My test is in 20 minutes. Oh lawd
Making money out of a fictitious item? Hmmmm that just seems stupid.
Let me simplify this for y’all, an interest rate is how much money is costs to borrow money. So a 7% interest rate on a 100,000 dollar loan will cost you 7,000 dollars to borrow the 100,000 dollars. In total you will pay 107,000 dollars on a 100,000 dollar loan.
dude what? that is not true its call APR. banks don't make money loaning 100k for 7k profit.
Ehhhh... no
Mortgages are a form of slavery ....Best days , rough , no CCTV , just free ,,, poor but free , now days we have iPhones , new tech , is that really better I don't know , we are all to busy paying our mortgages for life , retire at 67, finally paddy your property onto your son who has to pay 70% inheritance tax . We work so others live ,,,,, years back we all lived ,,, we all saw one anoughter more often , now it's all to fast . We are all being lubricated to get us through with plastic foods ,
i believe inheritance tax is 35% and only kicks in for amounts exceeding 5 million dollars. The tax laws change but that is what it used to be a few years ago.
😭😭😭😭😭
Mortgages have allowed my mom, a single mother, acquire 80% of her retirement savings. So it's not all bad!
how
First