What Affects Mortgage Rates?

KEY TAKEAWAYS

• Mortgage rates are determined by economic conditions, Federal Reserve policies, and individual borrower factors.
• Your credit score, down payment amount, assets, and debt-to-income ratio directly influence the mortgage rate you’ll qualify for.
• Market conditions, including inflation and economic growth, play a significant role in how mortgage rates trend over time.
• Shopping around with different lenders and improving your financial profile can help you secure better rates.