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The interest rates listed are for informational purposes only and are subject to change without notice based on market conditions and borrower qualifications. The rates shown are not guaranteed until you complete a loan application and receive written confirmation of a rate lock agreement. Rates may vary depending on credit score, loan-to-value ratio, property type, and loan term. Advertised rates may assume payment of discount points and are not reflective of the Annual Percentage Rate (APR), which may be higher based on additional fees or closing costs. Please contact your loan officer for current rates and complete details.


How do mortgage rates work?

Mortgage rates fluctuate based on several factors, including:

Economic Conditions: Rates tend to rise when the economy is strong and inflation is increasing because lenders want to offset the decrease in purchasing power. In weaker economic conditions, rates may fall to encourage borrowing and stimulate growth.

Federal Reserve Policy: The Federal Reserve doesn’t directly set mortgage rates but influences them by adjusting the federal funds rate (the interest rate at which banks borrow from each other). When the Fed raises rates, mortgage rates usually follow.

Bond Market: Mortgage rates often move in relation to yields on government bonds, particularly 10-year Treasury bonds. When bond yields rise, mortgage rates typically increase, and vice versa.

Lender Competition: Lenders may adjust rates based on competition in the market. More competition can drive rates down, while less competition might lead to higher rates.

The interest rates listed are for informational purposes only and are subject to change without notice based on market conditions and borrower qualifications. The rates shown are not guaranteed until you complete a loan application and receive written confirmation of a rate lock agreement. Rates may vary depending on credit score, loan-to-value ratio, property type, and loan term. Advertised rates may assume payment of discount points and are not reflective of the Annual Percentage Rate (APR), which may be higher based on additional fees or closing costs. Please contact your loan officer for current rates and complete details.

How do mortgage rates work?

Mortgage rates fluctuate based on several factors, including:

Economic Conditions: Rates tend to rise when the economy is strong and inflation is increasing because lenders want to offset the decrease in purchasing power. In weaker economic conditions, rates may fall to encourage borrowing and stimulate growth.

Federal Reserve Policy: The Federal Reserve doesn’t directly set mortgage rates but influences them by adjusting the federal funds rate (the interest rate at which banks borrow from each other). When the Fed raises rates, mortgage rates usually follow.

Bond Market: Mortgage rates often move in relation to yields on government bonds, particularly 10-year Treasury bonds. When bond yields rise, mortgage rates typically increase, and vice versa.

Lender Competition: Lenders may adjust rates based on competition in the market. More competition can drive rates down, while less competition might lead to higher rates.

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