Are Mortgage Rates Going Up or Down?

Traditionally, people who are considered to be high credit risks receive higher interest rates for any credit product. If your credit rating is steadily decreasing, you can be assured that the interest rates of any mortgage loan available to you will also steadily increase as a direct result.

On the other hand, interest rates tend to decline for people with great credit (Credit Scores 720 and higher). For this reason, a person who fastidiously repairs his or her credit and achieves a high credit score will find that the mortgage loan interest rates available get lower and lower. The more attractive an applicant can become to a lender, the more likely the lender will offer low interest rates.

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