Home buyers are often concerned about the sudden changes in mortgage rates and some are even worried that they may have to make a decision before a weekend because the rates might change by Monday. Thus, the question on whether mortgage rates change over the weekend is understandable. 

Mortgage rates can change over the weekend because the mortgage markets are global in nature and the rates are constantly shifting. This could be frustrating for home buyers because even a half percent increase in the mortgage rate could result into thousands of dollars during the life span of a mortgage loan. However, there are other factors that could also affect the mortgage rate.

It should be noted that the Department of Treasuryestablishes the initial interest rate based on international conditions. However, banks will also add to this interest rate and so the interest rates offered to borrowers may vary. The mortgage rate that is offered to a home buyer is also affected by his credit score. The lower his credit score, the higher the mortgage rate will be offered and vice versa. 

Another factor that can affect the mortgage rate that is offered is the amount of down payment that a buyer is willing to put down. A higher down payment will usually mean that a borrower represents less risk and therefore, a lower mortgage rate is offered. 

And if a home buyer is not satisfied with this mortgage rate, it does not mean that he is stuck with it. He can always try to obtain a refinancing to lower the interest rate in the future.

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My name is Maurice “Moe” Bedard. I am the founder of America’s #1 Mortgage Forum, LoanSafe.org. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.

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