Are you in the market to buy a new home or refinance your current mortgage? You've probably noticed that mortgage rates seems to fluctuate significantly, but do you know how they're set? Take our quiz to see if you know the science behind the seemingly random method of determining mortgage rates.
Question 1 of 9
What factors have the greatest impact on the interest rates charged for mortgage loans?
Question 2 of 9
What is typically the first major financial decision a teenager makes?
Question 3 of 9
When you take out a mortgage, are you assuming all the risk?
Question 4 of 9
In the U.S., what usually happens with your new mortgage after your lender gives you the loan?
Question 5 of 9
What does an aggregator do?
Question 6 of 9
What are shares in a mortgage-backed security called?
Question 7 of 9
When comparing rate of return, what U.S. treasuries item does an investor compare to the interest rate on a 30-year fixed mortgage?
Question 8 of 9
What happens to mortgage interest rates when economists predict a rise in inflation?
Question 9 of 9