Hi, All,
Could I know if it is wisely to pay the mortgage monthly or weekly? Is the interest rate calculated daily? Any information will be appreciated. Thanks a lot.
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http://www..com.au/bbs/v ... hlight=%BB%B9%B4%FB
看看这个。。。
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Thanks for your nice information. All the best wishes.
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I did a small calculation on line. If I put weekly payment, let us say $612; if I put monthly payment, it is $2448, it confuses me. Because (612*52)/12=2652. it means I pay more if I follow weekly payment. Very confusing. Any advice or suggestions?
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fornightly
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That's why you pay off your loan faster using weekly/fortnightly payments compare to monthly payments.
Because for some bizzar Reason the banks think 1 month = 2 fortnights = 4 weeks.
So according to banks' logic 1 year = 24 fortnights = 48 weeks.
In reality 1 year = 26 fortnights = 52 weeks
Now you know why you pay off loan faster with fortnightly or weekly repayments? Because you pay more!
[ 本帖最后由 黑山老妖 于 2007-7-26 12:19 编辑 ]
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hi, guys....any idea about coming pressure on rising interest rate......it looks more than likely the interest rate will go up due to inflation pressure.....
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It will go up. But most likely will be next year.
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But from the news, it says it will go up very soon....in coming month..... and if you check the fixed mortgage rate, it has already gone up quite a bit...... Any the economic analysis on this prediction is negative......
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Try fixing your rate.
And I still think the rate could only go up after election. After all, our annual CPI is still at 2.1% which is close to the bottom of RBA's target range.
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It sounds reasonable......Reserve bank is quite independent from the government, but sometimes they refer ABS cpi numbers....... hope things can do well.......bloody election.....
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