As a consumer, understanding these economic trends can empower you to make informed decisions about your mortgage. Let’s discuss some key economic factors that influence mortgage lending and what they mean for you.
Mortgage Rates
Are you in the market for a new home? One of the most crucial decisions you’ll face is choosing the right mortgage term. With options like 30-year and 20-year mortgages available, it’s essential to weigh the pros and cons to make an informed decision that suits your financial goals.
Rate locks provide financial stability, especially for those on a tight budget. Unpredictable rate changes can significantly impact the affordability of a mortgage, and a rate lock mitigates this risk.