Mortgage Handbook

Home Mortgage Rates

The rate you pay on your home mortgage loan will depend on a number of factors, including the lender or financial institution you deal with, and the terms of repayment you choose, in relation to current economic trends.

A small change in your interest rate can make a fairly sizable difference in the time it takes to pay off a mortgage or home equity loan, which is why it's important to get the best rate possible when buying a new home or piece of property.

By comparing rates from a variety of lenders, it is usually possible to establish an average rate at any given point in time, so as to measure out all the options against a reliable benchmark.