As opposed to bank officers, mortgage brokers are not employees of the lending companies they work for. Instead, they work independently as free lance agents who are on the look out for borrowers looking for a good mortgage. So what? Looking for a home mortgage usually involves you, your money, and a bank officer or a mortgage broker. Adjustable-rate mortgage payments generally have lower initial interest rates compared to fixed-rate mortgages. This makes an adjustable-rate mortgage payment more affordable and easier on the pocket. Adjustable-rate mortgage payments may also help you qualify for a larger loan. This is due to the fact that lenders sometimes decide to extend a loan provided that your current income is steady and your adjustable-rate mortgage payments for the first year are up-to-date. So, why not take advantage of this lowered home mortgage rate and get a chance to refinance your home and still save some? Fixed Rate Home Mortgage Rates Even though home mortgage rates are low, fixed rate home mortgage rates roughly remain the same. This is due to the fact that fixed rate mortgage rates are based on bond rates and not on fed rates. The principal amount is the money originally borrowed from the amortization mortgage lender. The interest is the percent growth of the money as time goes. Amortization mortgage interest is computed based on the current amount owed. Thus the longer you've been paying for an amortization mortgage, the lower the interest becomes. Interest-only mortgage rates also provide the consumer an unlimited cash flow. Other loans, like fixed rates often have restrictions on how much a home buyer can "cash out" during refinancing. There are cases where the desired amount is $300,000 but since fixed rate loans only allow $150,000 to the borrower, bank try to charge higher rates. After some time though, the interest rates of variable rate mortgage changes on a regular basis. These changes on variable rate mortgages are affected by several factors, such as changes in investor markets. Because of its low initial payment, a lot of people like to take on a variable rate mortgage.