Historically, low-interest rates have been one of the most critical developments in the mortgage sector. The average interest rate on a 30-year fixed-rate mortgage in the US as of September 2021 was 2.88%. The climate of low-interest rates has led to an increase in mortgage refinancing activity. Recent years have seen an increase in home prices, which may be attributed to low mortgage rates, a shortage of available property, and strong consumer demand. In August…