John is thinking about taking out a mortgage loan to buy a house
in Sydney. He knows it is very likely that he will sell his house after 5 years because he will either get a
promotion at the company he currently works in and thus can buy a bigger house or find a job in
another city. Look at the mortgage interest rate information online at https://compare.smh.com.au/homeloans
and help him find out what kind of loan (e.g. 30-year FRM, 30-year ARM or 5/1 ARM) is the
best for him. Work out his estimated payment under different loan choices and the effective yield or
cost of each loan option.
The aim is to apply the concepts and valuation methods in class to compare the various mortgage loans
on the market. Try to concentrate on the key issues affecting the mortgage loan decision making.

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