Home loan rates What the media say
Most people, however, obtain a home mortgage to purchase a house. The expenses incurred with a home mortgage may tip the scales in favor of renting in many situations. When a consumer obtains a home mortgage, the majority of the payments each month goes toward interest. That is money he does not get back and it does not add to his equity. The percentage paid in interest is large for most of the duration of the home mortgage, but does go down incrementally as the end of the term on the loan draws nearer.