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Saturday, September 18, 2021

Why mortgage rates going up or down

First of all different bank and lenders are different internet rates . Just look at the current mortgage rates chart history. Chicago mortgage can help you understand when to invest in market. Mortgage rates going up over time.

Why mortgage rates go up?

If income doesn't ride at the same rate, purchase power common people go down. Inflation causes prices of all commodities to gradually increase. That's why mortgage brokers increase the interest rate.

Inflation is inevitable so it will always play a factor in causing mortgage rates to slowly go up over time. 

Why mortgage rates going up or down


What causes mortgage rates to increase?

Mortgage rates follow the basis rules of supply and demand. Factor such as inflation, economic growth, the fed's monetary policy and the state of the bond and housing market all are come in to play.

Will the mortgage rates keep going up 2022?

Yes mortgage rates are going up in 2022. Because of supply and demand factor.

how much mortgage interest can i deduct

Home loan interest paid upto 2 lakh per year is tax deductible u/s 24, Section 80C allows deduction against principal repayment of up to Rs. 1.5 lakh every year.