No matter where you live, mortgage interest rates are on the rise. For many, this can present unique and unprecedented challenges when navigating the housing market, particularly since rates have been very low over the last several of years. Until last month, for instance, rates on most 30-year fixed rate loans were below 4%, and they had remained so for nearly a decade prior.
In the latest upload to his new YouTube channel, "Eirik the Expert," Eirik walks you through how to calculate monthly mortgage rates with these new numbers in mind—even if you are not a math expert!
He also provides a historic perspective on rates, which are still relatively low, and even delves into the advantages and disadvantages of refinancing vs. selling and buying vs. renting.
Watch the full video above. Click here to explore Eirik's other uploads and subscribe to his channel.