These are the 4 most important things homebuyers can do now, according to experts
Want lower home buying costs in today's market? There are a few moves you can make to achieve that, experts say.
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Mortgage rates have been above 6% for the majority of 2026, and have hovered right around 6.5% over the last few months . While these are not the highest rates borrowers have seen in the last few years, they're not particularly ideal, either. At an average mortgage rate of 6.625%, a median-priced home of $403,200 would come with a monthly payment of nearly $2,600 on a 30-year loan.
Unfortunately, rates aren't likely to drop anytime soon , either. There's little chance of a Federal Reserve rate cut at its July meeting, according to the CME Group's FedWatch Tool, and Fannie Mae predicts this year will end with rates around 6.4%.
That doesn't mean homebuyers need to take today's high rates lying down, though. Experts say there are several strategies that can help borrowers secure lower rates — it just takes some creativity and forethought to make it happen.
"Many buyers assume getting the lowest mortgage rate is simply a matter of waiting for rates to fall," says Jose Pascual, head of mortgage and commercial banking at PSECU. "In reality, the factors they can control often have a greater impact than market timing."
Find out how affordable the right mortgage loan could be today .