The key to your monthly payment is your mortgage rates. This is why you need to learn all you can about these rates.Even if you have been using the same bank or financial lender for years, when it comes to mortgage rates you will want to compare several different lenders. This can seem like a daunting task, but when you consider the money you will be saving it will be well worth your trouble. If you do not compare other lenders, you will never know what you could be missing.There are some great websites that allow you to compare many lenders at once. This can prevent you from taking an entire day or two to complete the numerous phone calls it would take to contact each lender individually. Another great advantage is that you can enter your information one time and you will have many results.If you try to call each lender separately it can become very tedious. When you use a website you will input your information one time and then have many results you can sift through. Mortgage rates can vary and the rates can change on a daily basis. This is a good reason to watch the current trends. If it is predicted that the mortgage rates are going to be lowered for a short time frame, now is the time to react. You do not want to procrastinate and end up spending more money for your home.A family that wants to own a home needs an affordable mortgage. Anything can happen in the future and you want to make sure that your mortgage payment is something you can honor even if your financial situation changes. Many people do not consider the future and with the instability of the job market, this is a new concern for many. You and your lender will work together to understand your boundaries. This can help you to stay within your means and you will never have the stress of knowing you cannot pay your mortgage.Mortgage rates are a very important aspect of purchasing a new home. These numbers can make or break you and you need to devote full attention to the process.