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How does the current interest rate affect my mortgage application?

April 26, 2017affect application Interest rate mortgage

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How does the current interest rate affect my mortgage application?

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A lower mortgage interest rate allows you to borrow more mortgage money than a high rate and still maintain the same monthly mortgage payment. Mortgage interest rates can fluctuate as you shop for your home and for a home mortgage loan. Therefore, check with Genesis Mortgage Services about “locking in” your mortgage interest rate, guaranteeing a set mortgage interest rate for a particular time period. This tactic may allow you to dodge escalating mortgage rates and buy more of a house.