Excel - using the Scenario Manager to track house payments with skyrocketing mortgage rates.

For potential homeowners, 1 year makes a HUGE difference. In 2021, we saw some of the lowest mortgage rates in the last 30 years. In July 2021, the average rate on 30-Year Fixed-Rate Mortgages was 2.87% (source FreddieMac). Today, July 2022, we are looking at rates around 5.8%. That is a significate spike. We will use Excel's Scenario Manager to review the changes in house payment (payment and interest) with mortgage rates for a 400,000 home and then a $550,000 home. Four scenarios will be created. We will also use several Excel functions including CUMIPMT and CUMPRINC to see how much interest and principal is paid over the first three years of the loan.

In Excel, you have input cells and dependent cells. When creating scenarios you use the input cells. To generate a Scenario Report we use the dependent cells.

Chapters:
00:00 Introduction
01:04 Where I get my data
02:07 Starting the project
02:24 PMT
04:00 CUMIPMT
05:00 CUMPRINC
05:43 Scenario Manager
06:09 Naming the range
06:51 Create scenarios
08:57 Analyzing the scenarios
10:32 Add scenarios to a new sheet
11:42 Closing

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Видео Excel - using the Scenario Manager to track house payments with skyrocketing mortgage rates. канала Chris Menard