How to work out your mortgage interest rate

So your bank or advisor has given you a range of interest rates but they don't seem to be as helpful when you ask them the question

"How long should I fix my mortgage for?"

So let's take a step back and first remind ourselves that the interest rate is simply the cost of servicing your mortgage and choosing a lower rate doesn't necessarily mean you will pay your mortgage of sooner.

Choose your mortgage interest rates wisely

When it comes to choosing your mortgage rate or setting up your loan structure, there are three things you can turn your attention to that will help you be confident in the mortgage rate you choose.

Mortgage rates will go up and down as long as you have a mortgage. As long as lenders have you focused on the mortgage rate they will continue to make enormous profits.

Considering these three things when determining what mortgage rates you choose will help you put your focus where it needs to be so you can get ahead.

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