Mortgage Rates Drop, But Savvy Homebuyers Can Secure Even Lower Rates Now
• Mortgage rates have dropped recently but could fall further in 2024 as inflation cools • Can get lower rates now by getting an adjustable-rate mortgage (ARM) and lock in low rates before they rise • Buying mortgage points from lender to lower interest rate, but weigh costs vs savings • Shop around with multiple lenders as rates differ and competition is high for business • If don't want to wait for rates to fall further, adjustable rates, points, and shopping lenders can secure low rate now