Mortgage Rates Hit 15-Month Low—Here’s How to Score an Even Better Deal!

U.S. Mortgage Rates Drop to 15-Month Low at 6.47%. Great News for Buyers and Homeowners! Find Out How to Secure an Even Lower Rate Now!

To lower mortgage rates even further, purchasing mortgage points can reduce rates by approximately 0.25% for each point bought.

Homebuyers should obtain multiple quotes from various lenders and negotiate terms to secure the best rate possible.

Adjustable-rate mortgages (ARMs) can offer lower initial rates compared to fixed-rate mortgages but carry risks if market rates rise after the fixed period.

Shorter-term mortgages such as 15-year loans typically present lower rates than 30-year mortgages, although they involve higher monthly payments.

Making a larger down payment, preferably 20% or more, can lower interest rates and eliminate private mortgage insurance (PMI) costs.

Implementing strategic approaches to mortgage financing can lead to significant long-term savings over the life of the loan.