What Factor Influences the Mortgage Interest Rate Predictions?
Mortgage industry seems to be connected to the banking and housing industry. However, when we talk about mortgage rates, the lending package are usually priced not solely factored by the current economy but also by different parties involved. Following are several factors influence in determine the mortgage rate predictions. The Lender Sometimes, the lender can lower the rates in order to get more business due to large competition among them. But, if there is mortgage crisis happen and predicted to be severe in few months later, the lenders may wary in providing the mortgage facilities to unreliable borrowers. Due to this situation, the mortgage lenders will tighten their credit requirements and when you don’t meet those newer requirements, they may raise the rate to hedge their risk which definitely influences your mortgage rate predictions. So, even with a market rate of 6.00% bound within 30-year fixed rate mortgage, you could still end up paying more if you don’t meet these new cre
