Mortgage Interest Rate Volatility
There’s been a lot of talk recently about volatility and interest rates and how that affects mortgages. Since we’re not lenders, we can’t quote what your interest rate could be. We’re only able to speak from experience with our clients.
The bottom line is that the increased demand for both people looking to refinance at a lower rate and new buyers is what’s creating the daily volatility with mortgage interest rates. A few days difference in interest rate changes can mean tens, if not hundreds of, dollars per month in a mortgage payment.
As a consumer, you can focus on improving and protecting your credit score, completing the entire application process with your lender, and being ready to have your lender lock in your rate when rates are at the level you are comfortable with.
For more info or to get preapproved, we recommend getting in touch with our preferred lender, Lisa: