5 Cool Mortgage Infographics

I discovered in an earlier post, 5 Cool Real Estate Infographics, that people love pictures that tell a story. So I felt obligated to share a similar post regarding the other side of the real state coin, the mortgage industry.

The 5 mortgage infographics below cover the gamut with information on everything from the history and time-line of mortgage crisis to how little people actually comparison shop for mortgages versus other trivial items they may be purchasing.

Click on any of the graphics below to see a larger image and enjoy!

1. 2011 interest rate forecast

This infographic show what the different interest rates may be for both savings accounts and different types of loans. Click on this graphic for a closer look at what interest rates you can expect to pay when buying a car, taking out a home equity line of credit (HELOC), buying a home and also what you might receive in interest on your savings accounts. (if you still have any left)

2. Mortgage crisis time-line

This infographic shows a time-line of the events leading up to the big bust in mortgage rates and real estate. It highlights all the things that have happened since 1900 with regards to government policy and Wall street dealings leaving a breadcrumb trail of questionable decisions and deals leading up to our current situation.

3. Sub-prime mortgage Foreclosure rates

In my humble opinion, the sub-prime mortgage sector single handily destroyed the US real estate mortgage and contributed to bringing our economy to it’s knees. While this graphic is from 2007, which was the start of the down slide in real estate, it is still a valuable image to make a point. The higher rate of foreclosures in the sub-prime category is proof that a high percentage of these mortgages never should have been made.

4. Mortgage comparison shopping

Sadly, the average consumer doesn’t spend a lot of time shopping and comparing mortgages. You would think that a mortgage is one of the most important financial decisions a family can make and unfortunately, most home buyers and home owners aren’t aware they could shop and negotiate for a better rate or lower closing costs. The graph below illustrates this point.

5. Refinance Your Home Loan

The hey days of cash out mortgage refi’s are long gone. The way home values have been falling the past 3 years, many people are upside down on their mortgage and couldn’t refinance if they wanted to. That said, for those of you that still have the home equity to consider refinancing, here are some tips to help you with your decision.