Mates Rates Mortgage Brokers » comparsion rate http://matesratesmortgages.com.au Professional mortgage help to save you more Mon, 06 Sep 2010 04:02:12 +0000 http://wordpress.org/?v=2162 en hourly 1 Small Percentages, Big Cost http://matesratesmortgages.com.au/advanced-mortgage-learning/small-percentages-big-cost/ http://matesratesmortgages.com.au/advanced-mortgage-learning/small-percentages-big-cost/#comments Tue, 06 Oct 2009 05:10:43 +0000 Mates Rates Mortgage Brokers http://dev.matesratesmortgages.com.au/?p=122 In our article on mortgage comparison rates we showed what happens when you change the loan amounts or term on two loans with identical, advertised comparison rates. One percent seems quite small, so one tenth, one hundredth of one percent probably sounds irrelevant. But here’s what really happens:comparison_rateA small difference in your interest rate can make a big difference in the actual cost of your loan, which is why comparing rate to rate can be tricky.

Look after the pennies and the dollars will look after themselves.
J. Paul Getty

Other factors

Higher interest rates nibble your lifestyle, every day.

Whenever you compare two interest rates, the higher rate means you must make higher repayments, which means you have less money to either pay your loan out faster or live the way you want.

]]> http://matesratesmortgages.com.au/advanced-mortgage-learning/small-percentages-big-cost/feed/ 0