The Hidden Cost of Low Mortgage Rates: What Buyers Need to Know In a housing market marked by fluctuating interest rates, homebuyers are being lured by seemingly great deals on low mortgage rates.
However, financial experts warn that these "great" rates may conceal costly catches that could add up to thousands over the life of the loan. For many first time buyers, affordability is a major concern.
The promise of a low interest mortgage can seem like a significant relief from monthly costs.