A little known fact, mortgage rates fluctuate on a daily basis. Daily mortgage rates are reliant on the prime interest rate, that is the rate at which the government sets for bank to bank loans. At the end of each day a bank must have a certain amount of money in reserve and if they cannot meet that reserve than they go to other banks to borrow the money.
There are several factors that are considered when it comes to the daily rates: Continue reading ‘How Are the Daily Mortgage Rates Calculated?’ »