“WHAT ARE TODAY’S INTEREST RATES?” IS A QUESTION LOAN OFFICERS ARE FREQUENTLY ASKED. IT IS A GREAT QUESTION, BUT IT DOES NOT COME WITH A SIMPLE ANSWER.
It is based on a range of criteria. That criteria can include… loan amount, credit score, debt ratio, loan type, length of loan, property type, available assets, etc. And daily interest rates can be influenced by a number of factors including many listed on the right.
FACTORS INFLUENCING INTEREST RATES
Reports highlighting the state of the economy, issued by various federal government departments and select private entities.
Whether there is a current, or possible future, erosion or increase in the “value” of money.
Swings in the stock market can contribute to fluctuations in the interest rate.
By controlling the flow of cash through the economy, policies set by the Federal Reserve can greatly affect not only the economy in general, but the interest rate specifically.
International stability or instability can affect interest rates. A major event may affect global markets.