How could an increased loan interest rate affect a mortgage loan?

For instance, if a current buyer has a loan of $200,000 under the current interest rate, what would his mortgage be? What would it be if the feds increase interest rates?

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September 2016

This all depends on what kind of loan it is. If it is a fixed loan, a rise in rates would have no impact on your mortgage payment. If it is an adjustable, the payment could rise.