| Mortgage Rates are the rate of interest
on a mortgage loan. In other words the particular amount of interest which
a borrower is required to pay to a lender for borrowing a particular sum
of money. The rate of interest charged for a transaction will depend on
such considerations as the duration of a loan, the amount borrowed and
the collateral security offered. (down payments)
There are many other factors which influence the perceived risk to a
lender such as creditworthiness and credit history. Mortgage rates
will therefore vary accordingly.
|
