The Wheeler Team | Marlborough Real Estate, Northborough Real Estate, Bolton Real Estate


Mortgage interest rates have a remarkable effect on the overall long-term cost of buying a property through financing. Mortgage borrowers are looking for the highest possible rates while lenders have to manage their risk by charging interest rates. Borrowers with good credit histories and stable finances are those who can access a mortgage with lower interest rates. The financial status of borrowers has a significant impact on the interest they can get; government fiscal policy and other economic factors can affect mortgage rates on a global level. Below are some of the factors that can affect your mortgage interest rates:

Inflation 

Inflation causes the price to rise gradually. It is a critical factor in the overall economy and an essential element for mortgage lenders. It reduces the purchasing power of dollars. And, mortgage lenders manage the interest rates such that it will be able to withstand the reduction of purchasing power through inflation to make sure that there is a real net profit on their interest returns.

The Level of Economic Growth

The gross domestic product and the employment rates are the economic growth indicators that have a remarkable effect on mortgage rates. When economic growth rates increase, there is higher income, and there is an increase in the level of consumer's spending which translates to a rise in consumers seeking mortgage loans. 

Federal Reserve Monetary Policy

The monetary policy of the Federal Reserve Bank is one of the essential factors that affect mortgage interest rates and the overall economy. The Federal Reserve Bank does not stipulate a specific price in the mortgage market, but the establishment of the federal funds' rates and the adjustment of money supply upward or downward have a pronounced effect on the mortgage interest rates that are available to borrowers.

Generally, a rise in the supply of money pressures rates downward while a reduction in money supply puts upward pressure on rates.

Housing Market Condition

The conditions and trends in the housing markets can influence mortgage rates. When there is a decrease in the number of new constructions, there is will a reduction in home purchases which automatically leads to a decline in demand for mortgages. This situation makes the interest rates to reduce. Another trend that affects the mortgage rate is the number of consumers renting an apartment instead of buying a home.

The rise and decline of mortgage interest rates operate based on the basic rules of demand and supply. All the factors mentioned above have a pronounced influence on mortgage rates. Most importantly, your financial standing affects your mortgage rate. It is essential to speak to a financial advisor before deciding on starting a home purchase and mortgage process.



38 Milk Porridge Circle, Northborough, MA 01532

Single-Family

$449,999
Price

10
Rooms
3
Beds
2/1
Full/Half Baths
If you are looking to move to Northboro MILK PORRIDGE CIRCLE is it! This well maintained Split Entry Home sits on a gorgeous Lot which backs up to Conservation Land. Open concept Kitchen, Dining and Living Room with an added Bonus Room with Gas Fireplace and Cathedral Ceiling plus a Newly Remodeled Enclosed Porch to overlook the in ground pool and private backyard. 3 Good Sized Bedrooms with the Master having its own newly remodeled bathroom and Walk In Closet. The Basement is finished with a Family Room, Exercise/Storage Room, Half Bath and Laundry. This home is located in a spectacular development and has convenient access to Golf Course and all major routes.
Open House
Saturday
June 15 at 2:00 PM to 4:00 PM
Cannot make the Open Houses?
Location: 38 Milk Porridge Circle, Northborough, MA 01532    Get Directions

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38 Milk Porridge Circle, Northborough, MA 01532

Single-Family

$449,999
Price

10
Rooms
3
Beds
2/1
Full/Half Baths
If you are looking to move to Northboro MILK PORRIDGE CIRCLE is it! This well maintained Split Entry Home sits on a gorgeous Lot which backs up to Conservation Land. Open concept Kitchen, Dining and Living Room with an added Bonus Room with Gas Fireplace and Cathedral Ceiling plus a Newly Remodeled Enclosed Porch to overlook the in ground pool and private backyard. 3 Good Sized Bedrooms with the Master having its own newly remodeled bathroom and Walk In Closet. The Basement is finished with a Family Room, Exercise/Storage Room, Half Bath and Laundry. This home is located in a spectacular development and has convenient access to Golf Course and all major routes.
Open House
No scheduled Open Houses

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The PICTURES say it all. BEAUTIFULLY Appointed Custom 3 Bedroom, 2.5 Bath Split Level Home. Completely Turn-Key Home. Just MOVE IN. and One of the BEST Cared For Property's I've Ever Listed. This CUSTOM Home is Functionally Designed for OPEN SPACE Living, with the Conveniences of SINGLE FLOOR LIVING, and Working From Home. Granite Kitchen, Center Island with Raised Eating Surface. ELEGANT Dining Area with WOOD-BURNING FIREPLACE which is Completely Integrated with a BRAZILIAN CHERRY Living Room. Master Bedroom WITH Master Bath! Wonderful Exterior Features Like a Large Driveway Base, Rear Paver Patio, and a Multi-Level Deck, Once Privately Hiding a Hot Tub. Oversized 28 x 28 Garage. This is an EXCELLENT Property, ALL-AROUND!

More Info on this Property | New Listing Alerts


9 Shattuck St, Pepperell, MA 01463

Single-Family

$419,500
Price

9
Rooms
3
Beds
2/1
Full/Half Baths
The PICTURES say it all. BEAUTIFULLY Appointed Custom 3 Bedroom, 2.5 Bath Split Level Home. Completely Turn-Key Home. Just MOVE IN. and One of the BEST Cared For Property's I've Ever Listed. This CUSTOM Home is Functionally Designed for OPEN SPACE Living, with the Conveniences of SINGLE FLOOR LIVING, and Working From Home. Granite Kitchen, Center Island with Raised Eating Surface. ELEGANT Dining Area with WOOD-BURNING FIREPLACE which is Completely Integrated with a BRAZILIAN CHERRY Living Room. Master Bedroom WITH Master Bath! Wonderful Exterior Features Like a Large Driveway Base, Rear Paver Patio, and a Multi-Level Deck, Once Privately Hiding a Hot Tub. Oversized 28 x 28 Garage. This is an EXCELLENT Property, ALL-AROUND!
Open House
Sunday
June 09 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 9 Shattuck St, Pepperell, MA 01463    Get Directions

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