Master Mortgage Rates Today Secrets to Save Big
Factors Influencing Mortgage Rates
Several key factors contribute to the fluctuation of mortgage rates. The overall health of the economy plays a significant role; when the economy is strong, rates tend to rise as demand for loans increases. Conversely, during economic downturns, rates often decrease to encourage borrowing1. Additionally, the Federal Reserve's monetary policy, which involves setting interest rates, can directly impact mortgage rates. Personal factors such as your credit score, loan amount, and down payment also affect the rate you can secure2.