I have a variable interst rate in 2005 how much should it have gone up 2006 and 2007.?

Question

I have a variable interst rate in 2005 how much should it have gone up 2006 and 2007.?

Answer 1

Try this forum instead: http://answers.yahoo.com/dir/;_ylt=Amfy_...

Answer 2

You don't give enough information to answer the question.  For all I know, it could have either remained level, gone down, or gone up 20%.

Answer 3

You need to supply more information about the terms of your loan.  How often does the rate reset?  What index is used to determine the reset rate?  It should be some well-known, widely published number that is independent of the bank's control.  A fixed premium on top of the rate on one year U.S. treasuries or LIBOR are common examples.

Without this information, it's impossible to know what interest rate you should be paying.