Friday, June 21, 2024 / by Dick Keenan
Worried About Mortgage Rates? Control What You Can
You've likely been hearing a lot about mortgage rates lately, especially with recent discussions about the Federal Reserve’s (the Fed) meetings. However, it’s important to understand that the Fed doesn’t directly set mortgage rates, despite what some headlines suggest.
Mortgage rates are influenced by various factors, including geopolitical events, inflation, and the overall economy. Predicting when these elements will align to bring rates down is quite challenging.
Instead of trying to time the market, focus on what you can control to make your homebuying plans a reality. Here’s what you can do:
Your Credit Score
Your credit score significantly impacts your mortgage rate. As CNET notes:
“You can’t control the economic factors influencing interest rates. But you can get the best rate for your situation, and improving your credit score is the right place to start. Lenders look at your credit score to decide whether to approve you for a . ...
Mortgage rates are influenced by various factors, including geopolitical events, inflation, and the overall economy. Predicting when these elements will align to bring rates down is quite challenging.
Instead of trying to time the market, focus on what you can control to make your homebuying plans a reality. Here’s what you can do:
Your Credit Score
Your credit score significantly impacts your mortgage rate. As CNET notes:
“You can’t control the economic factors influencing interest rates. But you can get the best rate for your situation, and improving your credit score is the right place to start. Lenders look at your credit score to decide whether to approve you for a . ...
