Fixed vs Variable Mortgage Interest Rate: Borrowing 101: Easy Peasy Finance for Kids & Beginners Video
This video covers "Fixed and Floating Interest Rate for a Mortgage" in a simple, kid-friendly way.
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The video addresses the topics below:
- What are the different types of interest rates for a Mortgage
- Fixed and Floating Interest Rates (also called Adjustable Rate Mortgage or ARM)
- What is a fixed interest rate
- What is a floating interest rate or Adjustable Rate Mortgage
- What happens when the interest rate changes in a floating rate (monthly payment goes up or down)
- Is there a maximum interest rate for a floating rate (yes, there is a cap or maximum limit)
- Why would someone select a fixed interest rate
- Why would someone select a floating interest rate
- Hybrid rate of interest (combination of fixed an floating)
- In a floating rate mortgage, who decides if the rate should go up or down (the bank, depending on the change in the benchmark rate)
- Who decides if you get a mortgage with a fixed rate or a floating rate (you do, the person taking the mortgage)
- How do you decide whether to select a fixed rate or a floating rate
Hope you like the video and stick around for more finance fun!
⬇️ RELATED VIDEOS ⬇️
What is Real Estate: https://www.youtube.com/watch?v=EaJoxeI_Mjc
What is a Mortgage: https://www.youtube.com/watch?v=qZZJgJ7gG2c
What is APR or Annual Percentage Rate: https://youtu.be/nYois7ahJf0
What is Refinancing or Mortgage Refinancing: https://youtu.be/kno_br2_sKk
What is Foreclosure and How Can You Prevent it: https://youtu.be/9Ud_YgW3ZmI
FHA Loan vs Conventional Mortgage: https://www.youtube.com/watch?v=zJwQ4qmYTmc
What is a Credit Report: https://www.youtube.com/watch?v=z4STIxmDeXU
What is Interest Rate: https://www.youtube.com/watch?v=SNRvoq0yVxo
⬇️ RELATED PLAYLISTS ⬇️
Introduction to Real Estate and Mortgage for Kids - Mortgage, Floating and Fixed Interest Etc.: https://www.youtube.com/watch?v=qZZJgJ7gG2c&list=PLD1Hjcbe9g7pgtY3ylRTGXvw8B5tfXHRg
Introduction to Borrowing and Loans for Kids: https://www.youtube.com/watch?v=Em_jN_bAC7s&list=PLD1Hjcbe9g7p2cmNFhpJ-U3_DyJErHOXH
Interest Rate for Kids - Compound Interest, Fixed Interest, Floating Interest, Etc: https://www.youtube.com/watch?v=ZonuaS7jUdM&list=PLD1Hjcbe9g7og0kBmO6ULBcu5RiEP1sD5
Key Personal Finance Terms for Kids: https://www.youtube.com/watch?v=mi0N0ZQtN4k&list=PLD1Hjcbe9g7qM1_HcgCIbA4b1V9VygbJN
Introduction to Finance for Kids - Earning, Saving, Investing, Compound Interest, Inflation, Net Worth, Emergency Fund: https://www.youtube.com/watch?v=3wMITaE5_Qk&list=PLD1Hjcbe9g7opE4MnIRUhDEJSHdaG1vTE
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** Easy Peasy Money **
A Fun Money & Budgeting Book for Kids. The book covers all aspects of money: Earning, Spending, Saving, Investing, Borrowing and Budgeting.
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A Fun Investing Book for Kids. The book covers all aspects of investing: Compounding, Risk-Return, Liquidity, Asset Classes, Diversification, Asset Allocation and Portfolio Rebalancing.
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A Fun Banking Book for Kids. The book covers all aspects of banking: Banks, Credit Unions, Checking & Savings Accounts, ATMs, Checks, CDs and Online & Virtual Banking.
View on Amazon: https://amzn.to/3ZiYyLm
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For more information and transcript, please visit: https://www.easypeasyfinance.com/comparison-mortgage-interest-rate-fixed-vs-floating-adjustable-arm/
FREE Crash Course in Money Management - Basics of Money and Personal Finance for Kids & Beginners: https://www.easypeasyfinance.com/free
EMAIL: easypeasyfinance@gmail.com
WEBSITE: https://www.easypeasyfinance.com/
INSTAGRAM: @easypeasyfinancekids https://www.instagram.com/easypeasyfinancekids/
TWITTER: @easypeasyfinanc
#InterestRate
#Mortgage
#Finance101
#FinanceForKids
#FixedVsFloating
#FinanceForBeginners
#EasyPeasyFinance
Credits:
Graphics: https://www.freepik.com/, https://openclipart.org/, http://www5.flamingtext.com/
Music: http://www.freesfx.co.uk/, http://www.SoundBible.com
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The links here may be affiliate links, meaning at no additional cost to you, we earn a commission if you click through & make a purchase. Easy Peasy Finance is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.
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The information presented in the video and the description is for educational purpose only. The presenter(s) / speaker(s) / Easy Peasy Finance are not financial advisors, and do not provide investment advise. Please consult a qualified financial advisor before making any investment decision.
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