Housing Expenditures and Mortgage Expenses
With my Housing expenses report I see that my mortgage expenditure is dropping each year but I have a fixed rate mortgage (it looks like only the interest portion is being added into the overall expenditure. Where does the whole mortgage expense show up in my expenditures? As the housing piece flows to total spending, etc. it seems like an expense item may have been overlooked. I am probably overlooking something but want to make sure the full mortgage (P&I, not taxes, maintenace, etc) is accounted for.
Thanks in advance
Jeff
RSS
Yes, the beauty of a fixed rate mortgage. It's declining in real terms each year--and since we report in "today's dollars" you are seeing right thing there. The taxes and insurance, on the other hand, keep pace with inflation so that part of the payment (which is easy to see after payoff or in the DETAIL report) remain constant since those payments are not fixed in 2009 dollars.
Got it - thanks