Problem
A. According to Bankrate.com what is the rate (approximately) on a 30-year fixed rate mortgage?
B. What are three key advantages of home ownership?
C. What are three key advantages of renting?
D. What is the total cost (over 30 years) for a home that has a mortgage of $1,500 per month?
E. How much is your payment on a 200k mortgage at 3.5% for a 30 year fixed? Use 250k for the sales price and let the system calculate your taxes and insurance costs. Use the Mortgage Calculator in the Motley Fool Foolish Calculators.
F. How does the Federal Reserve affect mortgage rates? Will mortgage rates be affected over the next year? Why?
G. When does it make sense to have an adjustable rate mortgage?
H. What would a $10k auto loan at 5% for 60 months cost you each month? What is the total interest paid on this loan?
I. Why have interest rates on mortgages and auto loans increased significantly over the last year? Will rate increases continue? Why does a Roth IRA make sense for saving for a home?