Interest Rates 101: Everything Farmers Need to Know About Interest Rates

When purchasing farmland, it’s important to consider not just the cost of the property itself but also the interest rate. It’s not easy to time the market, but you should aim to purchase or refinance when mortgage rates are low.

Locking in a low mortgage interest rate will result in a lower monthly mortgage payment and less interest paid to the mortgage lender. While a 1% difference may sound relatively insignificant now, it can really add up in the long run.

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