| Mortgages and Life |
[Mar. 1st, 2009|07:45 pm] |
I've been working very hard over the past two days on a spreadsheet which emulates the 1988/1989 interest rate change, and with a couple of handy excel/google spreadsheet functions I managed it. I now have a model for repayments of a mortgage that is a fixed-rate for five years which then exits straight into May 1988 (@7.5%) The pattern then increases till the mortgage reaches 15% (which is an unrealistic level again) within a year and drops back down.
What's interesting is that we could still afford it (for the target amount).
( For People who are interested in the technology )
|
|
|