How do mortgage rates work?

There are many variables that determine mortgage rates: Current market trends, economic performance, the job market, and much more helps to determine what interest rates are available. However, what interest rates you qualify for are different. Certain factors should be taken into consideration when applying for interest rates: Your credit score, debt-to-income ratio, and income/employment status all help to determine what interest rates may or may not be granted to you (the homebuyer).

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