Interest rates remain low

The good news is that the Federal Reserve is keeping its benchmark interest rate close to zero. While it’s not directly linked to mortgage rates, it does bear a strong influence.A

The not-so-good news is that lending standards have gotten stricter as banks are concerned about the long-range economy.

Analysts say that consumers with a credit score above 700 will most likely get the best rates while those with lower scores may have difficulty securing a loan.

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