Do You Know the Interest Rate on Your Mortgage?

December 17, 2015

Pop quiz: What’s the interest rate on your mortgage?

Zillow asked more than 1,000 homeowners that question, and while 48 percent of people paying off a mortgage knew their rate down to the decimal, 18 percent had no idea. The remaining 34 percent could give a ballpark estimate. 

The survey also revealed that more men than women knew the exact rate (53 percent to 42 percent), and that older adults, people with post-graduate degrees, and high income households were more likely to know the rate down to the decimal. 

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