Conventional mortgage rates are usually fluctuating by increments of 1/8ths of one percent. Interest rates fluctuate several times daily.

For example if mortgage rates moved up in price a rate of 6% may move to 6.125 or 6.250.

Note: bad credit mortgages or subprime mortgage rates don’t follow this trend.

Mortgage rates and there fractional equivalents:

1/8 = .125

2/8 or 1/4 = .250

3/8 = .375

4/8 or 1/2 = .500

5/8 = .625

6/8 or 3/4 = .750

7/8 = .875

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