If you’re searching for a home mortgage in Yardley, you may ask dozens of questions. Which real estate agent should I choose? How much home can I afford? And, what should I know about interest rates?
Do you really understand interest rates? Why do they change so often? Here are 5 factors that affect mortgage interest rates.
Hot economies drive up demand, since more people have jobs and money to spend. An increased number of people getting mortgages can drive up interest rates. On the other hand, a recession where unemployment is high can decrease the demand for mortgages, driving the interest rates down lower.
If bonds are increasing, mortgage interest rates are usually decreasing. They are indirectly proportional to each other. If bonds are decreasing, you can expect interest rates to rise.
For example, living in Yardley PA where the real estate market is booming can cause demand to increase, and interest rates will rise along with it. In a place where the housing market is cold, mortgage interest rates will be a bit lower.
High credit scores are awarded lower interest rates, while consumers with lower credit scores will be “dinged” with a higher interest rate on their mortgage loan.
Choosing an adjustable rate mortgage might set you up for a lower interest rate in the short term. A fixed rate may be a bit higher, but is locked in and can’t be raised.
It’s important to understand interest rates and that they are not all the same. By understanding what makes them move, you can choose the best time to purchase a home.
Kristen Katzianer
Easy process from start to finish
Easy process from start to finish. The underwriter should make more money.
Mike Pawlikowski
Federated Lending comes through again
Federated Lending comes through again. Tom K. and Federated Lending team helped me through the process of getting my original mortgage and now again with the refinance. They made the process very easy and I am extremely happy with the end result. I would strongly recommend if your looking for a mortgage or refinance that you reach out to the Federated Lending Team.
Jacob Desperak
Wonderful and easy experience!
My wife and I had a very good experience with Fedlend thanks to Andy and Kathy. We couldn’t be more thankful for all the help and guidance we received along the way. Would definitely recommend to all home buyers, as we will use Fedlend for our next purchase or refinance.
Katie Novak
Federated Lending was a great mortgage…
Federated Lending was a great mortgage company to work with! We were able to ask questions and get immediate answers.
Bart Cerami
Andrew Larson and Federated Lending made refinancing my home simple, and saved me a lot of money in the process. And Andy continued to assist me after the closing when I had a question regarding my local tax payment. I have already recommended him to several of my friends and will continue to do so. Thanks Andy!!
Jorge Figueroa
Federated Lending Is Fantastic and Honest
This was such an easy transaction. What is probably the most stressful thing to do Andy and his Team made this absolutely seamless. Everything was done perfectly and right on time. Zero issues at the closing table and it all went exactly as it was explained. I was prepared for so many things to be a push up and there was none of it. NONE! I cannot say enough ...
Patrick Mallon
Federated Lending has great customer…
Federated Lending has great customer service, a very knowledgeable staff, and made re-financing an effortless experience.
Shawn Cannon
Second time working with Vince
Second time working with Vince. Have had nothing but great experiences. Highly recommend!!
Elaine Punchello
I've trusted Federated Lending multiple…
I've trusted Federated Lending multiple times for my home mortgages. They make what can be a difficult process easy to get through. I've never had a delay in a settlement because of my mortgage, which is a frequent issue with other lenders. I'll continue to use them and recommend them. Thanks!
Megan Detwiler
We were happy with our experience. Initially there was a step missed that caused a slight delay, but we couldn’t be upset because it ended up getting us a lower rate overall. We were able to sign the documents in the comfort of our own home which was super convenient and appreciated. Would recommend!
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