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From the Lenders' Perspective:
The variables to considered with mortgages are: The size of the mortgage market, the rate variance (fixed vs. variable), the credit score of the borrower (FICO), the Loan-to-Value ratio (LTV) which is calculated from the amount borrowed and the total value of the mortgage, the loan amount, transaction fees, occupancy, and the property type.
When comparing all these variables, the task becomes a difficult one. Heitman Analytics has been answering that question for the last 25 years. They offer daily analytics of every domestic market backed by their analytical historical data and adjustors.
Read more: http://www.heitmananalytics.com
From the Federal Perspective:
Mortgage rates or the interest rates for home loans are affected by a variety of factors. More often than not, they are influenced by supply and demand.
A strong economy results in more borrowing which in turn results in higher interest rates. Conversely, with the softening of an economy, borrowing goes down and so does interest rates.
The Federal Reserve can also influence interest rates through raising or lowering the discount rate which is the interest rate banks are charged when they borrow money from the Federal Reserve.
Read More:http://www.housingnewslive.com/mortgage-rates.php
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How does your credit rate effect your mortgage rate?
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
When is an adjustable rate mortgage calculator useful to you?
An adjustable rate mortgage calculator would be of interest - and use - to you if you were the owner of an adjustable rate mortgage (a mortgage with a potentially fluxuating rate) or if you were considering the purchase of a home under the contract of an adjustable rate mortgage.
Fixed Rate Mortgage vs. Interest Only Mortgage?
Fixed Rate Mortgage vs. Interest Only Mortgage A fixed rate mortgage has the same payment for the entire term of the loan. Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage.
What is meant by the terminology fixed mortgage rates?
A fixed mortgage rate is an interest rate that will not change for the term of the mortgage. This is in contrast to a variable mortgage rate which changes frequently based on the prime rate or other benchmark rate.
What was the rate of mortgage interest in 1965?
The mortgage rate in 1965 was about 6%.
How does your credit rate effect your mortgage rate?
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
When is an adjustable rate mortgage calculator useful to you?
An adjustable rate mortgage calculator would be of interest - and use - to you if you were the owner of an adjustable rate mortgage (a mortgage with a potentially fluxuating rate) or if you were considering the purchase of a home under the contract of an adjustable rate mortgage.
Fixed Rate Mortgage vs. Interest Only Mortgage?
Fixed Rate Mortgage vs. Interest Only Mortgage A fixed rate mortgage has the same payment for the entire term of the loan. Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage.
What is meant by the terminology fixed mortgage rates?
A fixed mortgage rate is an interest rate that will not change for the term of the mortgage. This is in contrast to a variable mortgage rate which changes frequently based on the prime rate or other benchmark rate.
What was the rate of mortgage interest in 1965?
The mortgage rate in 1965 was about 6%.
What are the typical home mortgage rates?
The mortgage rates you pay are defined by what type of mortgage you have. If you have a fixed rate mortgage, you'll pay the interest rate which existed when you signed the deal. A tracker rate mortgage will track to the current base rate in the economy.
Is the Massachusetts mortgage rate currently higher or lower than average?
The national mortgage rate is currently at 4.02%. The Massachusetts mortgage rate is currently lower than the national mortgage rate by 5 basis points.
When is an arm mortgage calculator used in banking?
An ARM mortgage calculator is used when you have an adjustable rate mortgage instead of a fixed rate mortgage. It is recommended that you get a fixed rate mortgage to avoid sudden spikes in your monthly payment.
Is there a free mortgage rate calculator?
There are several free mortgage calculators out there to help you calculate your mortgage rate, such as; pncmortgage.com, calculators4mortgages.com, and freemortgagecalculator.net all great tools to help you calculate your mortgage rate.
How does a fixed rate mortgage differ from an adjustable rate mortgage?
The interest rate on a fixed rate mortgage does not change over the life of the loan. An adjustable rate mortgage interest rate may change up or down depending on what the interest rates are, at the contracted time the loan is reviewed.
What are some reasons to refinance a home mortgage?
Some reasons for refinancing a mortgage is lowering mortgage rate, change in family composition, purchasing other properties for investment and switching the mortgage type from Adjustable-Rate Mortgage (ARM) to a fixed-rate mortgage.
What types of rates does Jacksonville Mortgage Refinancing offer?
The types of mortgage loans offered by Jacksonville Mortgage Rates are: Fixed Rate Mortgage, where the interest rate remains the same for the life of the loan, and Adjustable Rate Mortgage in which the interest rate is tied to stock market activity.
