How Do Lenders Determine Interest Rates on Home Purchases and Refinances?

5/6/2020

Many people don't realize that a lot goes into determing what you interest rate is. Every lender has different interest rates, but there are a few key factors that determine your rate. Watch the video to learn!

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Mortgage rates are influenced by the state of the economy and how such developments impact investor confidence. Mortgage rates move in the other direction depending on whether there is good or poor economic news. Mortgage rates usually rise when the national economy is strong and employment growth is rapid. This is partially a function of investors choosing where to invest their capital; if they discover more lucrative returns elsewhere, the bond market will have to raise interest rates to remain competitive, which results in higher rates for borrowers.