Mortgage interest rates hit a 15-month low: How to get an even lower rate now

Mortgage rates have dropped to their lowest in 15 months, with the average for a 30-year fixed-rate mortgage at 6.47%. This decline offers hope for homebuyers facing high prices and inventory shortages. To secure the best rates, consider strategies like buying mortgage points, negotiating with lenders, opting for adjustable-rate mortgages (ARMs), choosing shorter-term loans, and making larger down payments. These approaches can lead to significant long-term savings, making homeownership more attainable despite current market challenges.