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Free Mortgage Loan Calculator 2.0 features the following: Support for adjustable rate mortgages, multiple payment frequency options, amortization schedules based on 360, 365, or exact number of days in year, interest-only mortgage amortization schedule, extra mortgage payment option, improved conversions in the "Basic Calculator +", and more. [Full Description]

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New Version 2.0

Adjustable Interest Rates
Interest only Mortgages
Canadian Mortgages
Accelerated weekly and bi-weekly payment option
360, 365, or actual days per year scheduling options.
Hundreds of conversions including Metric to U.S.

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Mortgage News and Information

Mortgage resets: Record bill coming due - More than two million subprime adjustable rate mortgages (ARMs) are poised to reset at much higher rates in coming months, worsening an already suffering housing market.

Mortgage applications rebound as rates lowest since March - Mortgage applications rose for the first time in four weeks as long-term home loan interest rates plunged to their lowest levels since March, data from the industry's main trade group showed Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended Aug. 4 rose 4.9% to 553.3, from the previous week's 527.6.

'Housing boom is over' - Pulte, the largest builder of active-adult communities for people 55 and older, projects earnings of 85 cents to 95 cents a share for the current second quarter, and $4.70 to $5 a share for the full year. In April, the company had forecast 2006 earnings between $6 and $6.25 a share. Cancellation rates for the two months stood at 27.4%, up from 14.8% in the year-ago period

Mortgage default notices are rising -- Owners feel pinch on adjustable-rate loans. Sacramento, Placer and Yuba counties all reported sizable increases in default notices in the first quarter of 2006 compared with the same time last year, the research firm DataQuick Information Systems said Tuesday. The notices are issued by financial institutions when mortgage holders miss at least two consecutive house payments.

Ameriquest Mortgage closes 229 offices The parent company of Ameriquest Mortgage Co. is closing 229 branch offices and laying off about 3,800 workers, effective immediately. Ameriquest has two offices listed in Honolulu. Calls there were answered by a machine that directed callers to leave a message. The company Web site said Hawaii customers are serviced by a regional center on the Mainland.

Interest Rate Averages

Mortgages

30 Yr fixed --------------- 6.35%
15 Yr fixed --------------- 5.90%
5/1 ARM --------------- 5.97%

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Updated 9-4-08