As a homeowner with a mortgage, interest rate rises have become an area of interest for my wife and me. As the Reserve Bank of Australia (and the rest of the world) sees continued rate hikes, it’s important to know how much extra money you’ll need to cough up.
I wanted a simple tool that wasn’t trying to get me to provide my contact details and sell my information to banks. A simple calculator that gives me an approximation of what my monthly repayments will be with rate increases.
So, I built something. Rate Rise Calculator will ask you for your loan amount, current rate and new rate. It will provide you with an approximation of what your new repayment could be. It works for both rate increases and rate decreases.
There is no API, just an Aurelia 2 front-end and some basic styling.