How Mortgage Interest Works – Explain Mortgage Rates

Explain Mortgage Rates

Introduction: Explain Mortgage Rates The interest rate on your mortgage stated as a percentage, influences how much you’ll pay to borrow money from a lender. Shorter-term loans, such as a 15-year mortgage, often offer lower interest rates but larger monthly payments. Longer-term loans, such as 30-year mortgages, have a higher interest rate but lower monthly […]