3/12/2023 0 Comments Icash canadaTo understand how a credit score is determined, you should first know that your credit score is based on three things: how much debt you currently have, how many debts you currently have, and the length of time that it has been since you’ve paid off any of them. In addition, if the Federal Reserve lowers the money supply, your mortgage rate will decrease, too. This means that if the Federal Reserve raises the money supply, your mortgage rate will increase as well. For instance, when you’re buying a property, the rate at which the interest rates can change is based on what the current federal funds rate is. Variable Rate Loan – With a variable rate loan, the rate can go up or down over time.You have to pay the exact amount indicated in the loan terms. The same goes if the interest rate drops-you don’t have to pay less when repaying the loan. In other words, if the interest rate goes up, it doesn’t mean that you’ll have to pay more money.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |