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birb_cromble  11hr ago (text post)   92 thread views

Weekly Finance Thread - 2027-07-04

A weekly thread to discuss financial matters - from personal all the way up to global.

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Back when interest rates were 2%-3%, a 30-year mortgage was practically free money, but today, if you can afford the house you want with a 15-year mortgage, it will save you a large amount in total payouts. Most people take 30-year mortgages so they can afford more house.

Some people will say take the 30-year mortgage and make double payments when you can afford them, which saves you almost as much but allows flexibility should your finances become strained. That works, but requires financial discipline, and if you can comfortably afford the 15-year rate, it's still a better deal.

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