Then, they’ll formally review your creditworthiness and provide you with an offer. Interest rates determine the cost of borrowing money. They are calculated as a percentage of the loan amount. Typically, lenders charge more when the risk of default is higher. Therefore, borrowers want to pay the lowest interest rate possible. This is why it is crucial to understand how interest rates ... https://easzfin.com/downsizing-the-unlikely-doorway-to-a-fresh-start/