Why do the different lenders have different rates? Is the difference in rates going to make a huge impact on the cost to the homebuyer? Explain
Find 5 different online mortgage lenders. From these 5 lenders, find the following rates, assuming the mortgage payments are made monthly: 10-year (if available) for fixed-rate mortgage 15-year (if available) for fixed-rate mortgage 30-year for fixed-rate mortgage Convert these rates into effective annual rates (EARs). Discuss which rate is actually the cheapest rate. What are […]