Mortgage rate


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Mortgage rate

Mortgage Rate

The interest rate on a loan used to buy real estate. Some mortgages have fixed mortgage rates, meaning that it remains constant over the life of the mortgage, while adjustable-rate mortgages have variable mortgage rates, meaning that interest rates change according to prevailing interest rates, at least within certain limits. The mortgage rate, along with the amount of the loan and the time until it comes due, helps determine one's monthly payment. See also: Mortgage-backed security.
References in periodicals archive ?
When mortgage rates or nominal house prices rise, consumer house-buying power declines.
In the week ending April 28, 2011, the 30-year mortgage rate was 4.78, according to historical date provided by Freddie Mac.
Global Banking News-April 10, 2018--Irish banks face pressure to cut mortgage rates
weekly average 30-year fixed mortgage rate rocketed up 10 basis points to 4.32 percent this week.
The larger jumbo 30-year fixed dipped to 3.57 percent, while the average 15-year fixed mortgage rate moved up to 2.87 percent.
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site, and reflect the most recent changes in the market.
FALLING mortgage rates powered a wave of first-time buyers in November, driving UK house completions to a post-recession record high, according to the latest First Time Buyer Tracker from Your Move and Reeds Rains.
The mortgage rate is not very sensitive to economic conditions, but economic conditions are sensitive to the mortgage rate.
The average 15-year fixed mortgage rate sank to 3.00 percent, while the jumbo 30-year fixed mortgage retreated to 4.38 percent, both record lows.
In practice, today's primary mortgage rate is modeled by approximating from other current rates and historical spreads.
A Resona spokesman said the bank would raise its floating-rate mortgage rate to 2.625 percent, starting on Oct.
Borrowers should read their loan agreements carefully to understand what will spark an increase in their mortgage rate and by how much.

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