Mortgage Rates Archives - Futura One Theme

08

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Mortgage Rates APR, Mortgage, Mortgage Rates

Understanding the Distinction Between Mortgage Interest Rates and APR

When it comes to securing a mortgage, borrowers are often confronted with various terms and figures that may seem confusing at first glance. Two key components that play a significant role in determining the cost of a mortgage are the interest rate and the APR (Annual Percentage Rate). Though they are related, it is crucial to understand the difference between them to make informed decisions while comparing different loan offers. This article aims to shed light on the dissimilarities between the mortgage interest rate and the APR, helping borrowers navigate the mortgage landscape more confidently. Mortgage Interest Rate The mortgage…

5 Key Factors That Affect Your Mortgage Rate

Many first time home buyers often wonder what factors determine their mortgage rate. Is it their credit score? Is it the type of loan chosen? Is it the size of the loan? The truth is, there are many factors at play. Mortgage interest rates are not standardized across the board, so they vary from lender to lender and from borrower to borrower. Here are 5 common factors that determine or affect your mortgage interest rate: 1. Default Risk Risk is a key consideration when determining mortgage interest rates. Banks and other lenders are in a risky business because there is…

What’s Ahead For Mortgage Rates This Week – January 29, 2018

Last week's economic news included releases on new and existing home sales along with weekly readings on mortgage rates and first-time jobless claims. Home Sales Fall Due to Slim Supply of Homes December sales of previously-owned homes dipped to an 18-year low with a reading of 5.57 million sales on a seasonally-adjusted annual basis. Pre-owned home sales were expected to reach 5.73 million homes based on November's downwardly- revised reading of 5.78 million sales. December sales were 3.6 percent lower month-to-month, but were 1.10 percent higher year-over-year. Analysts credited the shortage of sales to tight inventories of homes for sale.…