Quote:
Originally Posted by troutman
Interest rates don't have to double for your mortgage payments to double. Someone better at math than me can explain how this works.
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Someone bad at math might be able to do it, but no one good at math should be able to. If interest rates double, the interest portion of your payment should approximately double. At the limit, if you have a very long amortization (40 yrs might get close), the payment would exactly double (unless I am bad at math which is very possible!)