National 30-year fixed mortgage rates go up to 3.69%. Additionally, the current national average 15-year fixed mortgage rate increased 4 basis points from 3.15% to 3.19%. The current national average 5/1 ARM rate is equal to 3.60%.How do you calculate loan payment?
The loan payment calculation for an interest-only loan is easier. Multiply the amount you borrow by the annual interest rate. Then divide by the number of payments per year. There are other ways to arrive at that same result.