More on Mortgages

Mortgage interest rates have recently risen, and are currently very volatile. At the time of this writing, PSECU, my credit union, is offering mortgages at 5.125%, much higher than the 3.125% I locked in at, but lower than the peak above 6% I had recently read about in the news. But what does this mean in practice? Well, let’s run some numbers. Understanding how expensive a house is can be confusing.

Mortgages are Interesting

I just bought a house, and it came with a mortgage. I bought the house and committed to the mortgage all in one ceremony, in a cute little office where I signed enough papers that the sellers were able to solemnly hand me the keys to my new castle. In the lead-up to this, I was told how early payments, mortgage insurance, and refinancing works, and it’s – I think very reasonably – been on my mind since.

Why the National Debt Isn’t That Big a Deal

Fiat Money When I first heard the term “fiat money,” I was in a civics class in middle school. The class was asked why money was valuable, what was the reason that people chased after it. One kid, fortunately not me, tried to look really smart by talking about how you could exchange money for gold, while I smugly smiled because I also “knew” this. But the teacher announced that this was false.