To put some figures on it.
Loan size = $300,000
Current rate = 5% (current rate)
Loan term = 25 years
Weekly repayments = $440
Loan size = $300,000
Current rate = 7% (neutral rate)
Loan term = 25 years
Weekly repayments = $530
Loan size = $300,000
Current rate = 9% (interest rate 12 months ago)
Loan term = 25 years
Weekly repayments = $630
FHBs will probably have to come up with an additional 40% at some time in their loan, lets hope they never have kids or lose their job or it could send them bankrupt.
alarm over first-home 'time bomb', page-2
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)