Not only does shopping allow you to get the all the information you need to do a complete mortgage rate comparison but also, it lets you have an idea on what services other firms are offering. When you shop around to do a mortgage rate comparison, there are a few things you need to keep in mind. First, to get accurate information for your mortgage rate comparisons, see that any investment firm you are dealing is authorized. Borrowing money with lowered home mortgage rates has never been this easy or this cheap. So, why not take advantage of this lowered home mortgage rate and get a chance to refinance your home and still save some? Fixed Rate Home Mortgage Rates Even though home mortgage rates are low, fixed rate home mortgage rates roughly remain the same. One drawback, however of this home mortgage is its high interest bill and slow equity build-up. 15-year fixed rate home mortgages attract borrowers because of its relatively shorter amortization period. Equity in this home mortgage is quickly built up and interest bills are significantly lower. One disadvantage though is that 15-year fixed rate home mortgages have higher monthly payments and higher interest rates. On the other hand, the home buyers want the lowest possible interest rates on their bank rate mortgages. The result is a virtual tug-of-war. As interest rates of bank rate mortgages decline, the interest of investors and home consumers alike are tweaked just a little bit. But this all depends on the direction of the economic growth, inflation, appetite for the given product, and several other factors. By going for mortgage refinancing, they might end up paying more than when they stick to the loan they already got. Things to keep in mind when Mortgage Refinancing your home There are a few things to keep in mind when you decide to go for a mortgage refinancing loan. In mortgage refinancing, the first thing you need to do is ask yourself this question: "Does my property have enough equity for mortgage refinancing? To see if you're suitable a certain mortgage product, they will look into your personal credit account and start the approval process for your transaction. Mortgage brokers on the other hand are professionals who are peddlers of mortgage products. They are the ones responsible for bringing together mortgage lenders and their borrowers.