Definition: The word "chase mortgage rates" refers to the rate charged by a lender for mortgage financing, typically with terms ranging from one month to thirty years or longer. The term "chasing" implies that the lender seeks to obtain an interest rate that is more favorable than what it would otherwise be able to charge without the use of aggressive marketing tactics. The definition of "chase mortgage rates" is as follows: 1. Chasing: This term refers to obtaining a higher interest rate compared to what one might have been charged in the past. The lender seeks to make its offerings more attractive by charging a higher rate than it would be able to charge without using aggressive tactics. 2. Mortgage Financing: In this context, "mortgage financing" is used as a synonym for mortgage lending. This refers to borrowing money from lenders or other financial institutions with an intention of eventually returning the borrowed funds through the repayment of principal and/or interest payments over time. 3. Terms: The terms of mortgage financing refer to the amount of money that one has been charged or required to pay in order to finance a certain amount of the property or debt, typically for the purpose of buying a house or other asset. These terms can vary depending on the lender's policies and the loan term. 4. Interest Rates: The interest rate charged by a lender for mortgage financing is determined based on various factors such as the type of loan (e.g., residential versus commercial), the borrower's creditworthiness, the length of the loan, and the overall cost of borrowing funds. 5. Aggressive Tactics: In this context, "aggressive tactics" refers to methods used by lenders or other financial institutions to attract borrowers with a higher interest rate than what they would be able to charge without using aggressive marketing tactics. In summary, "chase mortgage rates" is a term that describes the practice of obtaining a higher interest rate for mortgages compared to the rate charged in the past. The term chases means seeking to make its offerings more attractive by charging a higher rate than it would be able to charge without using aggressive tactics.
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