Is a larger down payment worth it in today's mortgage rate environment? What experts say
A big down payment can make a lot of sense in certain situations, but it's not the right move for homebuyer.
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Updated on: May 6, 2026 / 9:14 AM EDT / CBS News
While it's relatively common for mortgage rates to change, at least marginally, on a regular basis, overall, mortgage rates have been hovering in the mid- to low-6% range for several months now. And, while borrowers may be hoping for the rate landscape to ease, increasing affordability for homebuyers, most experts don't expect them to fall below 5% anytime soon.
That doesn't mean getting a lower mortgage rate is impossible, though. In some cases, making a larger down payment on a home can qualify you for better loan terms than you'd otherwise get — and that can ultimately mean a lower interest rate , too. But there are tradeoffs, of course, and making a larger down payment generally isn't the right move for everyone.
So how do you know when it could be worth doing so, especially in today's landscape? Here's what experts say about making a big down payment in today's market — and when you might want to consider it yourself.
Find out how affordable the right mortgage loan could be today .