Definition: The word "what are today's mortgage rates" is a query asking for information on current mortgage rates. It's often used in a conversation or when making comparisons between different mortgage rates, usually to find out the best option for a specific situation.
Here's a brief explanation of what the term means:
"Today" refers to an unspecified point in time.
"Mortgage rates" refer to the cost of borrowing money to buy a home. In this context, they are typically expressed as a percentage rate that indicates how much interest is being charged on the principal amount of a mortgage loan.
"Today's" indicates that it is an ongoing discussion or comparison of information related to mortgage rates, with no specific date in mind.
For example:
"I recently looked at my current mortgage rates and I see that the average rate has gone up. Do you have any recommendations for where I should go?"
Here, "today's mortgage rates" refers to a hypothetical conversation about the mortgage market at that moment, which may not be applicable to the specifics of your situation or date.
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