Mortgage Rates
Mortgage rates are the interest rates that lenders charge borrowers for a loan secured by a property. Mortgage rates can vary significantly from one lender to another, and can also vary depending on the type of loan, the size of the loan, and the borrower’s credit score. Mortgage rates are typically expressed as an annual percentage rate (APR).
History of Mortgage Rates
Mortgage rates have been around since the early days of banking. In the United States, mortgage rates were first regulated by the Federal Reserve in the 1930s. Since then, mortgage rates have been subject to a variety of factors, including economic conditions, inflation, and the availability of credit. In recent years, mortgage rates have been at historic lows, due in part to the Federal Reserve’s efforts to stimulate the economy.
Comparison of Mortgage Rates
| Lender | 30-Year Fixed Rate | 15-Year Fixed Rate |
|---|---|---|
| Bank A | 3.50% | 2.75% |
| Bank B | 3.75% | 3.00% |
| Bank C | 4.00% | 3.25% |
Summary
Mortgage rates are the interest rates that lenders charge borrowers for a loan secured by a property. Mortgage rates can vary significantly from one lender to another, and can also vary depending on the type of loan, the size of the loan, and the borrower’s credit score. Mortgage rates have been around since the early days of banking, and have been subject to a variety of factors, including economic conditions, inflation, and the availability of credit. For more information on mortgage rates, visit websites such as Bankrate.com, Zillow.com, and FreddieMac.com.
See Also
- Interest Rates
- Mortgage Lenders
- Mortgage Brokers
- Mortgage Insurance
- Mortgage Refinancing
- Home Equity Loans
- Home Equity Lines of Credit
- Adjustable Rate Mortgages
- Fixed Rate Mortgages
- FHA Loans
