On the other hand, the home buyers want the lowest possible interest rates on their bank rate mortgages. The result is a virtual tug-of-war. As interest rates of bank rate mortgages decline, the interest of investors and home consumers alike are tweaked just a little bit. But this all depends on the direction of the economic growth, inflation, appetite for the given product, and several other factors. Fixed rate mortgage loans are characterized by fixed rates and monthly payments that are generally for a 15-year and 30-year periods. Fixed rate mortgages are popular in the consumer market because of its stability. Most consumers are hesitant to get house loans where the rates fluctuate with the changing interest rates of the market. Find the key features included in the documents and do a mortgage rate comparison of these with more or less similar products from various other firms. If there is anything at all that confuses you a bit or something that you do not understand while you're doing your mortgage rate comparison, do not hesitate to ask for advice. Temporary Payment Periods The payment periods for interest-only mortgages almost never run for the entire term of the loan. Even with a fixed rate mortgage, interest-only mortgages are still bound to be only temporary. And InterstFirst product only lets interest-only mortgage payments for half of the total term. However, if you expect to keep your house for a bit longer, then it is advisable if you look into the market for fixed rate home mortgage rates. Adjustable rate home mortgage rates only work if you stick with it for a short while. Home Equity Loans The home mortgage rates for home equity loans follow the prime rate. No one can really tell whether or not mortgage interest rates will rise over a period of time. The current mortgage interest rate that you are charged right now is something that your banker or broker cannot control. Often, loans with unattractive mortgage interest rates are sold to FannieMae or FreddieMac which in turn, sell these loans to the secondary market.