Mortgage rates can increase or decrease based on a variety of economic, financial, and market factors. Here are some of the key factors that influence mortgage rates:
1. Economic Indicators:
2. Financial Markets:
3. Credit Market Conditions:
4. Government Policies:
5. Global Factors:
It's important to note that mortgage rates are influenced by a complex interplay of these factors, and their movements can be challenging to predict. Borrowers and prospective homebuyers should monitor economic conditions and market trends when considering mortgage loans or refinancing to make informed decisions about when to lock in a rate.
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I represent clients who authorize me to do so. I do not work for or represent the interest of any mortgage lender or other duly authorized entity to whom I may submit a mortgage application on behalf of a Client. My services are provided in a Mortgage Broker capacity and I am not authorized to approve or deny a mortgage loan request. NMLS 1691763 / NMLS 1322774