Print Article
  BookMark Article

Author Login    Author Login

Existing members will have to use the lost password facility to get new username and new password

Welcome Guest! Please login or create an account.



If you do not have an account yet, you can register ( Here ), or you may retrieve a lost user/pass ( Here ).

Navigation    Navigation

   10 newest articles RSS

Author Highlights    Featured Author

jakson robert

"We are here to provide you with best Microsoft Hyper-V can offer. We want to give you..."

View My Bio & Articles

Gisele Maudie

"I appreciate exploring and creating. I am at present in class. I'm operating on my English..."

View My Bio & Articles

Rubi Meier

"Rubi Meier of , a website with the best energy supplement and memory enhancer..."

View My Bio & Articles

Other Websites    Websites of Interest

Methods For Obtaining The Most Favorable Mortgage Rates

Author : Dakota Lindal

It's a well known truth that mortgage rates tend to go up and down. This happens for several reasons. Ups and downs in the markets due to rising and falling gold and oil prices are one instance, as well as events like wars and natural disasters. However, the factor that tends to up interest levels the most is the state of the economy. If the economic climate is healthy then men and women loosen up and start applying for credit which causes the interest rates to rise. In the property market particularly, the cost of housing has an impact on financing rates and a rise in these costs tends to coincide with a stronger economic situation.

It would be great if we could all purchase a house when the market is favorable, sadly, this also tends to be the period when the economy is not as healthy as the status of the housing market and the condition of the economy go hand in hand. Mortgage rates are usually more favorable when the economy is in a downturn and sellers are trying harder to market real estate. Usually, the condition of the economy is beyond the house buyer's control; nevertheless, it is possible to obtain a good interest rate on your home loan.

Preferably you need to get the prime rate from the lender. Normally, this is offered to good clients, in other words, individuals who have a favorable credit history. For that reason making sure your credit record is clean prior to deciding to approach the bank to apply for a bond is one way to obtain more attractive home loan rates.

An alternate way to acquire more favorable mortgage rates is to sign up for a hybrid house loan. This sort of bond provides varying rates of interest. You might have the initial interest rate on your property finance loan fixed for a certain time period after which time it could be adjusted for the rest of the payment term. The advantage with this kind of home loan is that you possess a degree command and elasticity. As a result aren't forced to settle for the interest rate as decided by the economy but could adjust it in accordance with your finances, within reason, naturally.

Even though advantage of a hybrid house loan is that you could start out with a lower rate, the trouble is, the interest can rise sharply after the initial fixed rate interval or it could take you more time to repay the bond. If, however, you are in possession of a regular house loan, what you want to do is to pay it back as rapidly as feasible in order to help save on the interest. Hence in the event the interest rates fall you want to stay at precisely the same level as you had been before the decrease and not lower your bond payments at this time. In this manner you won't just gain from a reduced interest rate but you will be putting in more cash each month. It's also possible to fix your interest rate for a specific period so that it can't go higher than what is within your budget to pay back and you'll not have any nasty surprises when there is an interest rate hike.

Author's Resource Box

For more information on mortgage rates, go to

Article Source:

Tags:   mortgage rates

Author RSS Feed   Author RSS Feed     Category RSS Feed   Category RSS Feed


  Rate This Article
Badly Written Offensive Content Spam
Bad Author Links Mis-spellings Bad Formatting
Bad Author Photo Good Article!




Submitted : 2011-03-17    Word Count : 870    Times Viewed: 387