Mortgage Rates Keep Climbing, But Shopping Around and Large Down Payments Can Lead to Better Deals

Mortgage rates keep climbing, nearing 8% according to Freddie Mac. But shop around with multiple lenders to find the best rate.

Put down a sizable down payment to get the best mortgage deal. Ask lenders about down payment assistance programs.

This year likely to have fewest existing home sales since 2008 housing crisis due to high rates and low inventory.

Sales of newly built homes doing better than existing sales. New construction prices dropped 4%.

Economists predict Fed done raising rates. 10-year Treasury rate and mortgage rates expected to start dropping by end of 2022.