Mortgage rates describe the range of interest charges a lender might apply to a loan for home purchase, refinancing or improvements. The going rates are determined by a number of factors, but are often pegged to such things as mortgage-backed securities or mortgage bonds. In general, mortgage rates will be lower for those with impeccable credit and much higher for those with blemishes in their past. Knowing what mortgage rates will be applied to a loan is essential for determining the true costs of borrowing. The interest rates paid over the course of a loan, which are shown in an amortization schedule, can easily double or even triple the anticipated cost of buying beyond the initial sticker price.

When Adjustable Rates are Beneficial

Adjustable rates on mortgages, on the whole, are a bad idea. They leave you with a degree of unpredictability regarding the cost of your... »

How a Slow Economy Affects Mortgage Refinance Rates

Mortgage refinance rates tend to fluctuate based on the state of the economy. Due to the federal bailout of Fannie Mae and Freddie Mac,... »

How to Calculate your Mortgage Interest Rate

Mortgage interest rate is the rate at which the interest on your mortgage payments increases. If the rate is high, your payments will grow... »

Why Mortgage Rates Fluctuate

Mortgage rates fluctuate as a combination of public, private and personal credit concerns. There are some factors that affect all borrowers across the board.... »