PETALUMA — In the past, if you wanted to know the current interest rate for a home loan, you could simply ask a mortgage professional and get a direct answer. Today, however, interest rates aren’t as simple as they once were. For one thing, they fluctuate often—sometimes on a daily basis. This is because interest rates are based on what the bond market is doing, and since bonds are traded just like stocks, the rates are consequently subject to continuous change.
In addition to these large-scale fluctuations, there are more specific factors that go into determining the interest rate that you, as an individual, will pay. First, what kind of transaction are you doing? Read more