Definition: The term "can mortgage rates go down" generally refers to the possibility that a loan would be approved for a higher interest rate, which could lead to an increase in the mortgage rates. However, it's important to note that this statement may not have any bearing on whether or not the interest rates will decrease. The fact that there is a chance of increased rates could indicate that there are factors beyond one's control that might influence these changes. In general, if you are planning to buy a home with a mortgage, it's always a good idea to check with a financial advisor who can provide personalized advice based on your unique situation. The definition of "can mortgage rates go down" is quite specific and requires a little bit of context around the particular case or scenario in question. If you're referring to a hypothetical situation where there are no external factors that could affect the mortgage rates, then "can mortgage rates go down" may be an exaggeration but not a complete absence of possibility. However, it's always best to consult with a financial advisor for accurate advice and information based on your specific circumstances.
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