The 5 Most Influential Factors That Impact Mortgage Rates
The mortgage marketplace is fast moving, volatile and outside of the borrower’s control. They must rely upon the expertise of the seasoned mortgage professional to help them position themselves to secure the best possible mortgage rate in this ever changing and multi faceted financial environment. Mortgage rates can change many times per day as a direct result of market volatility, all without advance notice.
Lenders set their daily rates based on the market activities driven by Mortgage Backed Securities. How do lenders determine what the mortgage rates will be.
Timing on locking in your rate is key and this can be challenging at times even for the most seasoned professionals as there is no fail proof way of determining what rates will or will not do at any given time as some Lenders react differently to market fluctuations than others. Our seasoned mortgage professionals are well trained in helping you navigate through the process and will provide you with the information you need to make the best possible decisions on your mortgage loan.
5 most influential factors that impact mortgage rates.
The wrap up: Most economic news is reported daily, some data is given more weight than others with respect to it’s potential impact on rates. It’s helpful for you to become aware of these factors and to align yourself with a knowledgeable mortgage professional, such as those at Community Trust Mortgage, that will help you understand your options and monitor the timing for you.
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