Why Are Mortgage Interest Rates Important?

Interest rates aren’t the only factor you should weigh when you’re considering a mortgage offer.

“It is understandably tempting to go with the lender with the lowest mortgage rate, but borrowers should ask questions about all elements of the contract,” says Mayra Rodriguez Valladares, managing principal at financial consulting firm MRV Associates in New York City. “They should look carefully to understand what is the structure of the loan.”

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