What is a mortgage interest rate?

Answer The mortgage interest rate is the fee paid by the borrower monthly to borrow a set amount of funds. This fee is denoted by an percentage rate which is multiplied by the principle balance monthly to... Read More »

Top Q&A For: What is a mortgage interest rate

Who Do You Talk With to Get an Interest-Only Mortgage Changed to a Fixed Rate Mortgage?

Interest-only mortgages are considered to be one of the riskiest types of home loans on the market. If you have an interest-only loan, you can take the necessary steps to convert it into a fixed ra... Read More »

What is the national mortgage interest rate?

The national mortgage interest rate is currently 4.22 for a 15-year fixed loan, 4.74 for 30-year fixed loan and 3.53 for a 5/1 ARM loan type. These rates can help you calculate your monthly payment... Read More »

What Is the Average Mortgage Interest Rate in the U.S?

The average mortgage interest rate in the U.S. is 5.27% for a 30-year fixed mortgage loan, according to Zillow Mortgage Marketplace. Source:

What is the prime mortgage interest rate?

The interest rate on prime mortgages is much lower than the rate on subprime loans. That's because people who qualify for prime mortgages have great credit scores and are less likely to default on ... Read More »