Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell slightly to 6.81% from last week's reading of 6.83%.

“I don’t see a lot of clients who are going with a 30-year amortization ... using a 4.79 per cent interest five-year, fixed-rate mortgage and a 20 per cent down payment.

The amortization calculator needs just three pieces of information from you: Suppose you're borrowing $300,000 on a 30-year mortgage at a fixed interest rate of 7%. Plugging those numbers into the ...