"Mortgage rates" refer to the interest rates charged by lenders to borrowers for borrowing money to buy a home. It represents the cost of taking a mortgage loan and determines the monthly payment a borrower needs to make. Full definition
If the data are reported weaker than the estimates, we could see lower mortgage rates in the next week. (activerain.com)
Some homeowners may pay down their mortgage to qualify for a shorter term mortgage that has a lower mortgage rate in what's called a term refinancing. (totalmortgage.com)
Due to this reason, a vast majority of homebuyers opt for fixed mortgage rates for a carefree and relaxed payment period. (syndicatemortgages.com)