What is a mortgage rate?

Answer Mortgage rates are added to monthly mortgage payments. Fixed, adjustable and interest-only mortgage rates are available to those who need to take out a mortgage loan to afford a home.DefinitionA mo... Read More »

Top Q&A For: What is a mortgage 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 »

How Does the Prime Rate Impact a Mortgage Rate?

The prime rate is set by the Federal Reserve and is the interest rate lenders charge their most creditworthy customers. The "prime" fluctuates in relation to the fed fund rate from the Federal Res... Read More »

How to Get a Low Mortgage Rate?

Have you ever seen a great mortgage interest rate advertised only to call and find out that you don’t meet the standards of an “excellent” borrower? Here are some tips to get you into the low... Read More »

Should you lock your mortgage rate?

On One Hand: It Secures Your MortgageAccording to Beaverton, Oregon-based mortgage broker Tony Saenz, a fixed-rate mortgage is a secure home financing option. By locking in a set mortgage rate, you... Read More »