09/22/2026
Mortgage rates are impacted by the situation overseas, economic data, inflation numbers, oil prices, and even decisions from the Federal Reserve (who recently decided to hike their Fed Funds Rate – which often affects mortgage rates too). As Danielle Hale, Chief Economist at Realtor.com, explains:
“The pressure on mortgage rates was here even before the Fed rate hike, and it doesn’t show signs of relenting. . .”
Now, that’s probably not what you wanted to hear. But, it doesn’t mean there’s nothing you can do.
Your credit score plays a big role in the rate you qualify for, and even a small improvement can make a real difference in your monthly payment. As Freddie Mac puts it:“Generally, the higher your credit score the more options will be available to you, including better loan terms and a lower interest rate.“
The second thing would be to explore your loan options. The type and term of your loan both affect your rate. Conventional, FHA, VA, and USDA loans each come with their own requirements and rates, and your term (15, 20, or 30 years) changes both your payment and the total interest you’ll pay. The structure matters, too. A fixed-rate loan holds the same rate over time, while an adjustable-rate loan usually starts lower and can move later on. Just be sure to balance your goals, your possible rate, and any potential tradeoffs before making any decision. You may even want to talk to multiple lenders to see how the options vary.
You can't control where mortgage rates go, but you can control your credit and your loan. Working with a trusted lender can help you lock in the best rate you qualify for. Who is the best lender for you? Reach out to me and I am happy to walk you through my extensive network of professionals to best fit your needs. 🤝
