How Do Interest Rates Affect My Mortgage?

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How do interest rates affect my mortage?

Rounding it up

  • Mortgage loans are available to help people finance their home purchase. Like any loan, they come with an interest rate that adds to the total cost of a loan over its lifetime.

  • Mortgage interest rates can vary for each borrower and house. It depends on factors like credit scores, market conditions, and government policies.

  • You can choose between a variable mortgage interest rate, which can change over time, or a fixed one, which will not fluctuate.

  • While tempting, lower mortgage interest rates are not always the best choice; consider all options and do your research to ensure you’re locking it the best mortgage situation.

8 min read

Justin Stewart
#mortgage#home#loan#buying home

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