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Mortgage loan rate
A rate that applies based on lenders' criteria, although such rate is determined
by a secondary market, in which mortgages loans are bought and sold such as
mutual funds, stock markets, and other financial investors.
Financial investors also contribute to find out a given mortgage rate. In the
United States, the secondary market is based on two renowned investors Freddie
Mac and Fannie Mae, government sponsored enterprises that efficiently regulate
the lending process.
A mortgage loan rate also is determined by the amount of money borrowed, the
term of the loan, and other factors such as the property pledged as collateral,
although current financial trends and stock market can modify a loan rate consistently.
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