When developing a home-buying budget, it’s important to understand that there’s a variety of factors to consider beyond just a property’s list price. Mortgage interest rates are chief among them.
Interest rates have a major impact on your monthly mortgage payment and for many buyers, they can be the deal breaker when it comes to a home’s affordability. All of which makes it important to understand how mortgage rates are determined and the factors that contribute to the rate you’re offered.
