Mortgage rates today are driven by movements in financial markets worldwide. When the economy heats up, bond price drop, and rates increase. When the economy pulls back, interest rates tend to fall.
What causes rates to rise and fall?
Mortgage interest rates depend on a great deal on the expectations of investors. Good economic news tends to be bad for interest rates because an active economy raises concerns about inflation. Inflation causes fixed-income investments like bonds to lose value, and that causes their yields (another way of saying interest rates) to increase.
How often do they change?
Mortgage Rates change on a daily basis and can vary depending on your unique situation. Simply use the quick form below to receive FREE and accurate rate quotes from us.