The key factor that impacts your mortgage rate – and it is out of your control!

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Mortgage rates have been on the rise lately as the economy continues to strengthen. But what factors impact your mortgage rate the most? Here are four things that matter most when you're trying to get the best deal on a mortgage (and 1 of the major ones is completely out of your control!)

1. FICO Score

2. Down Payment

3. Type of Purchase (Primary home, 2nd home, or Investment Purchase)

4. THE BOND MARKET! This is one of the most important components of what determines the mortgage rate you get and it is 100% out of your control!