A mortgage interest rate can be defined as the price a home owner (the borrower) pays for the use of money he/she does not own and the return the lender receives for deferring his/her consumption, by lending to the borrower. |
Mortgage interest rates are typically expressed as a percentage over the duration of one year. Click here for a detailed explanation on the relationship between interest rates and mortgages. |
Click here for information on Conventional Loan Information. |