In today's market, the mortgage interest rates are much lower than they were in the mid-1980s to the 90s. But within the next year or two, financial experts have come up with predictions mostly outlining the rise of mortgage interest rates. A sad fact however, is that with mortgage interest rates, there are no certainties and no guarantees. After seven years, the total amount of money you owe to the balloon payment mortgage lender is $184,000, provided that you haven't sold the property yet or refinanced. A tip for home borrowers is that when you do take on a balloon payment mortgage makes sure that the due date is not too soon. With balloon payment mortgages, if you can't pay the lender the amount on the due date, you might have to foreclose and lose the property. With the interest-only second mortgage loan however you will be required to pay back the entire amount that you borrowed as soon as the term ends. This type of second mortgage loan is also called balloon payment loans. Second Mortgage Loan Costs Fees may be charged by some lending companies for the money you borrow on second mortgage loans. The bank rate mortgage investors act like typical consumers. That is, like you, they want two opposing things: low payments on their bank rate mortgages and high returns on investments. The demands of these investors play a significant role in moving the yields of the bank rate mortgage markets. The marketplace for bank rate mortgages is crowded because investors literally have hundreds of places to put their money into. Here are some of them. 30-year Fixed Rate Mortgage - Advantages and Disadvantages A 30-year fixed rate mortgage gives consumers the opportunity to borrow money on a long-term basis. They do this without having to worry about the change that might occur in fixed rate mortgage interest rates or payments of such. So, why not take advantage of this lowered home mortgage rate and get a chance to refinance your home and still save some? Fixed Rate Home Mortgage Rates Even though home mortgage rates are low, fixed rate home mortgage rates roughly remain the same. This is due to the fact that fixed rate mortgage rates are based on bond rates and not on fed rates.