Mortgage Rates Have Never Been Cheaper — Here’s How to Take Advantage

Compared to just two years ago, getting a mortgage at today's low rates could save you thousands of dollars a year.

But experience has shown that rates like these don’t last forever — mortgage rates fluctuate over time, so they’re bound to go up again. Various forecasts say rates are likely to climb throughout 2022.

If you’ve been thinking about buying a home, now’s the time to snatch a cheap interest rate.

Get pre-qualified for a better rate — without affecting your credit

Though today's average rates are low, not all lenders will offer you the same interest rate on a mortgage. You've got to shop around and compare rates to get the mortgage that’ll save you the most money over time.

Homebuyers who compare two rate quotes save $1,500 more, on average, than those who take their first loan offer, according to Freddie Mac research. Those who look at five quotes save an average of about $3,000 more.

A good rule of thumb when you’re shopping for a mortgage is to compare loan offers from at least three lenders before officially applying.

The mortgage rates tool below will help you see which rates you can qualify for — before you apply.

Enter your information in the tool to get matched with lenders. If you’re a match, they’ll reach out with your pre-qualified offer, so you can compare offers and consider your options without a pushy sales person staring at you from across a desk.

Getting pre-qualified for a mortgage doesn’t affect your credit score, and you don’t have any obligation to accept an offer if you don’t find something that’ll save you money.

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