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. 80 20 Mortgage Loans - Second Mortgage spells higher rates In most cases, the interest rate of the second loan of an 80 20 mortgage loan is higher that first. However, if you combine the two payments in an 80 20 mortgage loan, you get lower costs. You can see evidence of this just by comparing the cost of an 80 20 mortgage loan with the cost of a regular loan with PMI. Also, it depends on the type of adjustable-rate mortgage payment you plan to make. Adjustable-rate mortgage payments have characteristics that might ultimately prove risky in the long run. Because the dynamics of interest rates in the market are never certain, the amount of your adjustable-rate mortgage payments are uncertain as well. A reverse mortgage is a loan that you make where you do not have to pay back anything for as long as you still possess that property you have purchased. Reverse mortgages provide you with cash which you can use for other investments. By turning the value of your home into cash, reverse mortgages gives you virtually unlimited funds without having to move and even without repaying the loan every month. The mortgage interest rate of a 30-year mortgage is higher than that of a 15-year mortgage. Other alternative programs and payment plans for your loans can some difference on your mortgage interest rate. An adjustable rate mortgage initially has lower mortgage interest rates compared to fixed rates. So basically, the effect of economics on mortgage interest rates is also counteracted by the type of mortgage you choose to take. When you shop around to do a mortgage rate comparison, there are a few things you need to keep in mind. First, to get accurate information for your mortgage rate comparisons, see that any investment firm you are dealing is authorized. Second, do make sure that you know what you are looking for. Mortgage rate comparisons are a serious activity to be undertaken and should not be taken lightly.