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 ?
Adjustable mortgage rates were slightly changed, with the 5-year ARM nosing higher to 3.
Mortgage rates are closely related to the yields on government bonds.
htm) Jonathan Miller , have said that the low mortgage rate is even hurting the housing market, making banks extremely selective because profit margins are so low.
To access the most up to the minute mortgage rates available to residents of West Virginia, please visit http://www.
Every increment up on the mortgage rate ladder brings a threshold at which prospective buyers have to rethink their plans.
Because Fannie Mae and Freddie Mac reduce mortgage rates on the order of 20 to 50 basis points, the effect of their rate reduction on homeownership is likely to be quite modest although, again, not trivial.
Due to this, the Bank of Canada is not anticipated to raise the overnight lending rate, leading to unchanged variable mortgage rates.
Adjustable mortgage rates were mostly higher, with the 5-year ARM inching higher to 3.
At present, fixed-rate long-term mortgage rates are still near record lows, offering homebuyers the security of a low mortgage rate over an extended time period.
Mortgage rates dipped to their lowest level since early November this week, cheery news for anyone house hunting during the holidays, Freddie Mac said Thursday.
And so, if mortgage rates are high, you can secure a lower interest rate.
Also contributing to the cooling housing market is an increase in mortgage rates of nearly one point, speculative investors pulling back and first-time buyers being priced out of the market.

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