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Author: admin | Category: Calculator Car Loan | Date: 29.09.2015

With interest rates having been at historic lows for the past couple of years, it is inevitable that they will continue to increase. The tables below demonstrate in simple terms the impact that interest rate changes have on monthly cash flow. A 1% increase in interest rates will cost you about $50-60 per month for every $100,000 worth of mortgage on your property. Subscribe now to the Rent to Own Insiders list and get new deals from Ownership Solutions by email. FollowAbout AndrewI am a full time Real Estate entrepreneur living in Toronto and love talking about real estate investing, wealth creation, and online business.
The prime rate can have immense implications on your finances and it is essential for personal finance beginners to understand it before they start borrowing money. To understand what prime rate is, you must first understand how it is derived and calculated.
The prime rate, in general, is the lowest rate of interest commercial banks charge their most credit-worthy customers. This prime rate is derived from the Federal Funds effective rate, which is the interest rates at which banks lend money to each other. This prime rate has been in effect since the Fed Funds rate was lowered to 0%-0.25% back in December of 2008.
The significance is that the Federal Reserve lowered the rate dramatically at that point of time due to the credit crisis preventing the flow of credit in the economy. When looking at the historical prime rate, you must first look to the historical fed funds rate. While it will likely not reach these heights again, you can see that historically, the fed funds rate (and hence, the prime rate) has been at levels much higher than we have become accustomed to in recent years. Every line of credit or loan has an interest rate in the form of a quoted APR (annual percentage rate), that you pay. All of them determine the present APR that you pay on that loan by taking a fixed rate (as specified in your contract) and adding the prime rate to it.
Read more about President Obama's, Elizabeth Warren's, and the Republicans' plans to fix student debt. Below are nine charts that help illustrate that the student loan crisis isn't just about interest rates but about how the cost of college has spiraled beyond the reach of many families and is leaving millions of students and grads with debts that are keeping them from realizing their financial goals. The amount of total student loan debt has soared in the past decade, shooting up from $240 billion at the start of 2003 to nearly $1 trillion today. The rising price of college has contributed to overall student loan debt, but so has the fact that more students are attending college.
Mortgage debt is still by far the biggest category of debt in the United States, totaling over $7 trillion.

Even when students pay back their loans on a standard, 10-year repayment plan, the interest does add up.
The silver lining to this story is that more Americans are pursuing higher education, even if they are taking out loans to do so. Whether you finance your properties with variable or fixed interest rates, at some point your rate will adjust, and this will have a real impact on your cash flow.
These tables assume a mortgage with a starting balance of $100,000 which compounds semi-annually (Canadian style). In this example we have a property that we’ve purchased for $250,000 where we put 20% down, so our mortgage balance would be $200,000 ($250,000 x 80%). Stress test your properties to ensure they will still put money in your pocket every month when rates go up. Cash flow is super important and it is the life-line in this business (may be in any business).
Cash flow is key so measuring the impact of rate changes, rule changes, and whatever else comes our way is very important. You'll receive the deal summary and full performance projections in your inbox every time a new deal is released. The Federal Reserve provides guidance on what the Fed Funds rate should be set at – or a Federal Funds target rate. The Fed has kept their target rate at that historically low level since, in order to keep credit cheap, with the hopes that it will stimulate the economy. There has been no better time to lock in a rate than right now, with Prime rate being at a historical low.
After the July 4 recess and before most students take out new loans for college in August, Congress will have a window to fix the loan rate.
You are far from alone: More than 38 million Americans have outstanding student loan debt totaling nearly $1 trillion, and those numbers are rising fast. Compared to the overall price of consumer goods, college prices have still risen sharply since 1980. As more students attend college, they're taking out more loans—and bigger loans, too. But as more people have invested in college, the total amount of outstanding student loan debt exceeds auto and credit card debt.
Low-income parents report they are less likely to know how they will pay for their children's college education. The current proposals for changing interest rates on some federal loans could have a big impact on borrowers.
Some economists are troubled by the fact that fewer people under 30 are buying homes and other goods as more are paying for college, but higher education is, on the whole, a solid place to put your money.

To add some perspective, I’m going to provide a simple chart that will help you figure out how much your monthly cash flows will be impacted by various changes in interest rates. The first table below outlines the monthly payments across a variety of interest rates and amortization periods. Since our mortgage balance is double the $100,000 amount represented by the tables, we will simply double any of the figures we look up for our example.
Since the economy hasn’t exactly been humming along, the Fed has not raised the rate (which it typically does when it wants to cool down inflation). In other words, your APR cannot get any lower than this (unless you negotiate it to be), so you might as well lock it in before it eventually increases. Senate Democrats are now pushing for a temporary fix, a one-year extension of the low 3.4 percent interest rate that would give Congress time to hammer out a long-term solution.
This month, Congress will consider proposals to keep the interest rates on direct federal student loans down.
One big reason is that higher education, especially at four-year colleges, costs a lot more than it used to. That's a low-ball estimate: The Federal Reserve Bank of New York guesses that, if you exclude borrowers that have deferred their loan payments, the share of delinquent borrowers would be more than 20 percent. Keep in mind that the loans that Congress is discussing right now have some of the lower rates of the student loans out there: Federal loans for parents and grad students have higher interest rates than the rates below. In 2010, the median earnings for young adults with bachelors degrees were 50 percent higher than those of their counterparts with high school diplomas. The second table shows the increase in monthly payment which occurs with a 1% increase in interest rate.
Continuing with our example, lets assume that to maximize monthly cash flow early on, we opted for a 35 year amortization period and took a variable mortgage at prime rate (currently 3%).
What if you had an ARM, for example, and the prime rate went back up to historical highs in 20 years? According to the Hill, they have scheduled a vote on the proposal for July 10, though others (including House Republicans and even some fellow Democrats in the Senate) may not be on board.
But for many members of Generation Debt, the benefits of having a diploma may seem a long way off.

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