What Is a Fixed Mortgage Rate?

Answer

A fixed mortgage rate refers to a mortgage charged at a constant rate. Generally, this mortgage interest rate remains constant throughout the mortgage repayment period. This rate does not vary at all even within dynamic economic markets.
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Mortgage rates for VA
Rate Current Last Week
30yr fixed 4.14% 4.16%
15yr fixed 3.13% 3.16%
5/1 ARM 2.73% 2.77%
Source: www.zillow.com
Mortgage Rates for:
A fixed rate mortgage is a rate where the interest rate on the mortgage stays fixed for a set period thus making it easy to plan ahead. It is good for first time buyers and people who need the stability of a set monthly repayment.
Fixed Rate Mortgage is one that has a constant interest rate for the entire term of the loan. The advantage of a fixed-rate mortgage is that the owner will not have to contend with fluctuating loan payment amounts that vary with interest rate movements. Another advantage is that the fixed rate mortgage makes it easy for the homeowner to plan ahead.
Q&A Related to "What Is a Fixed Mortgage Rate"
A fixed rate mortgage is a loan that has an interest rate that is the same throughout the duration of the term of the loan. For more information on mortgages, lending, and/or banking
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1. Read about fixed mortgage rates and what determines them. Fixed mortgage rates can be explained as the pre-determining of the loan amount and interest payable of a fixed number
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Is it time to pull money out of your home for an important expense? Is a 40 year fixed rate mortgage something you should consider? A 40-year fixed rate mortgage is a mortgage loan
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The current mortgage fixed rates depend on which bank your mortgage is with and how long your mortgage is for. A Wells Fargo 30 year mortgage is 3.75%
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