Track Market Interest Rate Changes and Know Current Rates
Since our company is in the financial industry, we firmly believe that we should be financial experts. This is where your home mortgage becomes a part of your financial planning. When it comes to weighing the benefits of a loan, there is much more to consider than an initial mortgage loan rate quote. By examining the various factors and looking at rates and investments long term, we are able to save you more money. We are here not just to give you a loan, but to ensure your future financial success.
The meter to the left shows today's national market rate trend. To subscribe to daily or weekly rate updates, press subscribe. You will be redirected and can choose your subscription options on the following page.
The middle graph shows historical changes in mortgage rates.
The information to the far right shows how average rates have changed throughout various days of the most recent past few months.
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Understanding Interest Rates and Factors That Affect Rates
Who determines interest rates? It's not so much who as it is what, as there is a broad range of factors that affect interest rates. To make things as simple as possible, the interest rate is what is charged by the lender, which is their incentive for lending the cash. Mortgages are paired together to form mortgage backed securities which in turn are sold on the market. Interest prices will fluctuate daily when the stock market is open as a result of mortgage bonds being sold. The basic principle behind these daily fluctuations are supply and demand. Changes in the stock market or economy can cause a change in interest rates. In general, when the economy is doing very well, loan interest rates are higher, and when the economy is not doing well, interest rates are lower. However, in 2016 mortgage rates are very low while the economy is doing well, this is because many of the mortgage bonds on the market are being purchased (demand).
Sound complicated? Well it's even more complicated than that. If this stuff interests you, contact us and we can discuss further. If you are now feeling dizzy after that explanation, don't worry, we track changes and study the economic factors so you don't have to.