Mortgage Interest Rate: What You Can Control

While broader economic factors and bond markets determine the baseline interest rates, you hold tremendous leverage over the specific pricing tier you receive.

Your credit score, down payment size, loan type (Conventional vs FHA vs VA), property type (single-family vs condo), and whether you purchase discount points all directly influence your rate.

Small adjustments, like boosting your credit score from 719 to 720 or increasing down payment by 2%, can lower your rate and save thousands over time.