Building a new home may require you to secure a new mortgage and you will be looking to lock into a good rate. Have you ever wondered what makes interest rates go up or down? There are multiple factors that play a role in the increase or decrease of rates on a daily basis. We have asked the loan officers at our affiliated company, Tradition Mortgage, to help us put together some of those rate drivers. Here are six main factors that drive home loan rates:
These are just a few of the many factors that play a role in mortgage rate changes. If you are looking to lock in a rate or secure financing, be sure to contact our friends at Tradition Mortgage to help you with your financing needs.
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Information collected from Vantage Production, LLC