How are rates determined?
National mortgage rates are determined by the secondary market and other financial indicators. These rates can change daily or even more than once within the same day. The changes are based on may different economic indicators in the financial markets. Individual mortgage rates are determined by a variety of factors including, but not limited to: your credit score, length of employment, gross monthly income, debt to income ratio (DTI), loan to value ratio (LTV), whether the loan is a fixed rate or ARM, whether the loan has a prepayment penalty or not, and whether or not you can provide full documentation for your employment history and rental/mortgage history for the past 24 or 48 months.
Rates are determined by the 10-Year Treasury and other financial indicators. These rates can change daily or even more than once within the same day. The changes are based on many different economic indicators in the financial markets. To obtain current interest rate information you may email us or contact us at 713-275-9387. What is the difference between APR and interest rate? The APR (annual percentage rate) reflects the cost of your mortgage loans as a yearly rate. It also incorporates the cost to obtain the loan, such as discount fees and loan origination fee. The interest rate is the actual note rate.
Related Questions
- I paid local taxes to a non-RITA city. How do I report those tax payments on the RITA Form 37 and do I need to attach a copy of the other city (ies) returns to receive credit?
- I paid local taxes to a non-RITA city. How do I report those tax payments on the RITA Form 37 and do I need to attach a copy of the other city(ies) returns to receive credit?
- How are rates determined?
