"Mortgage Rate Fluctuations: A January Overview for Prospective Homebuyers"

Mortgage rates have increased, with the 30-year fixed-rate mortgage now at 6.750%, up by 0.375 percentage points from the previous day. It's crucial for potential borrowers to check current rates and compare offers from different lenders to secure the best deal. Factors influencing mortgage rates include credit score, debt-to-income ratio, down payment, and economic conditions. Fixed-rate mortgages offer predictable payments, while adjustable-rate mortgages may start with lower rates that can change over time. To qualify for a mortgage, applicants need to demonstrate steady income, good credit, and meet specific loan requirements. Credible is a personal finance marketplace that can help borrowers compare prequalified rates from multiple lenders.