economy
3 mortgage interest rate mistakes to avoid this June
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TL;DR
- Borrowers should avoid assuming a Federal Reserve rate pause will prevent mortgage rates from rising, as lender interpretations of Fed comments can impact rates.
- It's a mistake to rely solely on usual economic drivers like employment and inflation to predict mortgage rate movements; geopolitical tensions and oil prices can also play a role.
- Prospective homebuyers and those refinancing should not dismiss the importance of a good credit score, as it's essential for accessing favorable mortgage rates when they become available.
- Strategic planning and understanding potential pitfalls are key to securing a good mortgage rate in the current environment.