When you’re shopping around for a loan, the interest rate you’re given is one your most important considerations. After all, it has a big impact on how much you’ll be expected to pay each month. You probably know that it’s in your best interest to get a loan while mortgage interest rates are low, but have you ever wondered how these rates work?
If so, keep reading. In the post below, I’ll cover how mortgage interest rates are determined, as well as why each person can receive a different rate.