Tip:
Highlight text to annotate it
X
This is financial advisor, Patrick Munro, discussing, what is an Average Mortgage Rate?
An Average Mortgage Rate, is really a rate that's designed for the consumer, that takes
away the average benchmark of an overall gross interest rate, and a mortgage company will
cut away a portion that they feel is risk worthy, to put on the block, as a chunk of
money, for mortgage money to be given out to the public. Average Mortgage Rates are
developed by bank systems, based on their branches nationwide, and their competitive
posture as well, is how they feel that they want to posture themselves against other competing
banks. As a consumer, you should be well aware of what the Average Mortgage Rate is, and
you can go onto a website called, bankrate.com, and actually put up there, what your search
criteria is, to get a mortgage that you can afford. This is Patrick Munro, discussing
Average Mortgage Rates.