Mortgage Rates Dip: Shop Around for Best Deals

Mortgage rates are dropping, with Zillow reporting a thirty-year fixed rate of six percent and a fifteen-year rate of five and a half percent. Shopping around with multiple lenders is crucial to secure the best rate. A fifteen-year mortgage, despite higher monthly payments, can save significantly on interest over time. Adjustable-rate mortgages (ARMs) are also an option, but their rates should be carefully compared to fixed-rate options. Improving credit score, down payment, and debt-to-income ratio can lead to better mortgage rates.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.