Ever thought that Mortgage Rates are set by Interest Dice

The new year is with us and it is back to business but in the world of housing which is of great personal interest to many millions of American home owners and millions more who want to be home owners the home buyers market is very complex

One of the first consideration for most folks when buying a new home or property is how much will the monthly repayments cost and what is the set value for the mortgage rate

Interest Dice

Now herein lies the dichotomy no one will tell you what the mortgage rate is they will say it is set at x per cent this month and may stay at this set rate for months or it may be adjusted up or down fractionally depending on prevailing market conditions!

Now what does that mean well in ‘layman’s terms’ it means the lenders do not know what the mortgage rate will be!

This confuses the hell out of most folks and many believe the mortgage rates are set by spinning an Interest Dice

‘Of course mortgage rates are not set by throwing an  interest dice – but it often seems like that!’

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