Definition: The term "mortgage rate trends" refers to a period or series of changes in mortgage rates, which are set by the government (usually the Federal Reserve) based on various economic and market factors. These rates can influence financial decisions made by home buyers, such as refinancing their mortgages, buying a new property, or making other changes in their real estate purchases. In summary, the term "mortgage rate trends" describes how mortgage rates have changed over time or for any given period of time based on various economic and market factors. This information is crucial for individuals and households who are considering refinancing their mortgages, buying a new property, or making other changes in their real estate purchases.
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