Factors Affecting Mortgage Interest Rate Changes

Factors Affecting Mortgage Interest Rate Changes

There's more to the cost of owning that dream home than the price the seller is asking for. The interest rate on your mortgage loan affects the price and how much you'll pay every month to your mortgage company.

Comparing mortgage interest rates is important because they may change daily, and different rates may be associated with different types of loans. With variable-rate or adjustable-rate mortgages, it is understood from the outset that the loan's interest rate will change over time, becoming higher or lower depending on the current economic climate.

Let's look at why mortgage interest rates fluctuate so frequently.

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