When interest rates go up, mortgage payments also go up, and when interest rates go down, mortgage payments go down.  

The reason for this is that the interest rate determines the amount of interest that you will pay on your mortgage each month. 

When you take out a mortgage, you will be charged interest on the amount of money that you borrow.  

The interest rate that you are charged will be based on a number of factors, including your credit score, the type of mortgage that you are getting, and the current market interest rates. 

If interest rates go up, the interest rate on your mortgage will also go up.  

This can make it more difficult to afford your monthly mortgage payment and can put a strain on your finances. 

On the other hand, if interest rates go down, the interest rate on your mortgage will also go down. 

This means that you will pay less in interest each month, and your mortgage payment will decrease.