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 rise by the end of this year, and continue climbing in 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.

About the Author

Dana Sitar, CEPF®

Dana Sitar, CEPF®

Freelance Contributor

Dana Sitar has been writing and editing since 2011, covering personal finance, careers and digital media. She’s written about work and money for The New York Times, Forbes, CNBC, The Motley Fool, a column for Inc. and more.

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