I get a lot of calls from people asking about interest rates and why they’re going up. It’s important to align yourself with a lender that can give you the reasons why home mortgage interest rates are going up. What I always try to explain is that interest rates are determined by two variables. The first is your unique scenario and second is the market. What this means for you is that if you’re on the sidelines and thinking about buying a house you want to pay attention to the fluctuating interest rates. You don’t want to get priced out of the market due to affordability issues.
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