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Why It's Important to Monitor Lending Rates For Mortgages

Why It’s Important to Monitor Lending Rates For Mortgages

Keeping an Eye on Mortgage Lender Rates Can Pay Off

If you’re a homeowner, or are looking to become one, keeping a close eye on lending rates for mortgages is a great way to ensure you are able to get the most value out of a home at the lowest cost to you.

Here are just a few benefits to monitoring lending rates for mortgages:

You know when to act

There is a long and a short game to understanding mortgage lenders rates. By consistently monitoring lending rates you can gain an important sense of history when comparing today’s lending rates to other time periods. Would-be buyers who don’t monitor could look at rising rates and be spooked by those menacing red arrows, while the buyer who monitors mortgage lenders’ rates in the long term can see that rates are historically low and merely temporarily high, and better yet, understand the driving forces behind mortgage markets like demand, regulations, credit restrictions, and housing inventory.

Why It's Important to Monitor Lending Rates For Mortgages

With a better general knowledge of mortgage markets you can (with the help of your broker of course) feel confident that mortgage decisions you make are the right ones for you and your family.

You know why things are happening

Much of the ideas of “buyer’s” and “seller’s” markets are directly tied to mortgage rates. Lending rates for mortgages are a sort of barometer of the health of the housing industry as a whole. If you’re a homeowner, and you should be because it’s better than renting, then a great deal of your material wealth is tied to the performance of the housing market. Knowing mortgage lending rates can help give you a better sense of your overall financial security.

You have more tools at your disposal

Even when you are not looking to purchase a home, monitoring rates can help you take advantage of uniquely circumstances in the mortgage industry like eased credit restrictions or falling rates. If you closely monitor mortgage lenders rates, then you can more dependably and safely use tools like home equity lines of credit to your advantage when you need some extra money or you want to put some more value into your home.

At Blue Water Mortgage, we pride ourselves on helping our customers navigate the sometimes confusing waters of the mortgage market. Our team of experts is well equipped to help you make educated choices about your borrowing decisions. Feeling confused? Contact us today.

Roger is an owner and licensed Loan Officer at Blue Water Mortgage. He graduated from the University of New Hampshire’s Whittemore School of Business and has been a leader in the mortgage industry for over 20 years. Roger has personally originated over 2500 residential loans and is considered to be in the top 1% of NH Loan Officers by leading national lender United Wholesale Mortgage.

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