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QUICKEN LOANS GUIDE
Understanding
Mortgage Rates
Home Loan U is a ree educational series rom Quicken Loans,created to help you make the most o your home, and homefnancing, at every stage o lie.
The Easiest Way to Get a Home Loan
®
3 quickenloans.com | 800-979-4922
TABLE OF CONTENTS
Welcome to the Home Loan U Guide on Mortgage Rates from Quicken Loans. Whileinterest (and mortgage) rates affect just about everyone, few people actuallyunderstand how they work, what amortization tables are, and what determines the
current rates. Here, you can nd all of that information and more to help you and yourfamily achieve your nancial goals. Here’s what’s inside:
Understanding Mortgage Rates .............................................................
4
How are Mortgage Rates Calculated?
......................................................
5
Monthly Payment Calculation ...............................................................
7
Adjustable Mortgage Rates
..................................................................
8
What Determines Mortgage Rates?
........................................................
9
What Determines My Mortgage Rates? ..................................................
11
How Much Money is a 1% Difference in My Mortgage Rate? ........................
12
Are Rates Going Up or Down? .............................................................
13
Contacts at a Glance ........................................................................
14
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