How are mortgage interest rates determined?

The annual percentage rate (APR) you get is based on a range of factors. You can find out what rate you’re likely to get during the mortgage pre-approval process.

Here are a few things we’ll consider when offering you a great rate:

• Your credit score and repayment history
• Your debt-to-income (DTI) ratio
• Your loan amount or loan-to-value (LTV) ratio
• Your preferred loan term (shorter terms get lower rates)