It is especially important to know your interest rate if you have an adjustable rate mortgage. After the fixed period of term and rate, your rate will float and you will want to know the maximum it can adjust each year. You don't want to be unaware of a large spike in the monthly payment, especially if your budget is tight.
A whopping 29 percent of homeowners don’t know their current mortgage rate. It’s a mistake that experts say could have serious repercussions. From thousands more paid in interest to missed payments and lost financial opportunities, the costs of not knowing your rate can be big.