Video: What Is the Current Mortgage Interest Rate?

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The mortgage interest rate is a constantly fluctuating rate the is based on a benchmark set up by the U.S. Treasury on prevailing interest rates. Keeping up with current interest rates is difficult because of the constant change but the process can be figured out easier with tips from a registered financial consultant in this free video on finance and investment.

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Video Transcript

This is financial advisor Patrick Munro, talking abut what is the current mortgage interest rate. The current mortgage interest rate is based on a benchmark that's set up by the U.S. Treasury on prevailing interest rates, and it fluctuates; basically, on a weekly basis. At the time of this filming it's 6.1 percent APR., and that is based on the fact of a wide range of criteria that's been factored in. That 6.1 could go up if you are less than credit worthy, or if there's any other factors that would be unique to the loan application. Cur current mortgage rates are important to follow if you're in the process of buying a home or refinancing a home, because you want to make sure you're getting the absolute best rate possible. You can check your local mortgage brokers, as well as go to bankrate.com, which is a great website to educate yourself on current mortgage rates. This is Patrick Munro, financial advisor, talking about current mortgage rates.

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What Is the Current Mortgage Interest Rate?

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