The latest survey from the MortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. Bankers Association shows that mortgage rates are increasing as refinancing activity is continuing to drop.
Did you take advantage of the low mortgage rates before the started to rise? Did you refinance and lock in a low rate or did you miss your chance?
See the full article on mortgage interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. rates from the Mortgage Bankers Association for more details.