As demand for construction financing reaches record levels and interest rates decline, consumers need to be aware of key factors when choosing a loan agreement. Currently, mortgage rates range from three to nearly 4.5%. Borrowers should consider the terms of their loans, including interest and repayment schedules. Fixed-rate mortgages offer security against potential future rate increases. Those looking to refinance their existing loans can lock in lower rates now, which may lead to higher repayments in the future. Understanding these dynamics can help consumers make informed financial decisions.