Mortgage Rates Explained: What Buyers Should Know
Julian Park
Finance
Introduction
Rates move headlines, but your personal rate depends on more than the market.
What drives your rate
Credit score, down payment, loan type, and loan term all affect the rate a lender offers you.
Fixed or adjustable?
Fixed rates keep payments predictable
Adjustable rates can start lower
Shorter terms cost less interest
Points can lower your rate
Shop around
Compare offers from at least three lenders. Even a small difference adds up over the life of a loan.
Your next step
Our partner lenders can provide a quick, no-obligation rate estimate.