How does interest rate affect mortgages when you own one already and when you are nearly to grasp one?
Answers:
if you have a fixed rate mortgage, changes within the current mortgage rates don;t affect you at all.
If you an adjustable rate, they are usually tied to a specific type of interest rate like 10 yr Treasury Bonds of something
and if you you are shopping for a latest motgage, then, until you lock in a rate, the rate can amend from the time you are approved until you do lock in the rate and close on the property
I think the mortgage rates will progress up for the future mortgages and not for the present ones.
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