Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . How do I get the lowest mortgage rate? 8 tips you can use. Hal Bundrick, CFP Senior Writer Wed, August 12, 2026 at 5:37 AM PDT 9 min read Mortgage rates have been slowly rising over the past five months, from just below 6% before the Middle East conflict began in late February to near 6.75% this week. However, it's still possible to lock in a rate below the national average. Borrowers need to shop diligently and deploy one or more of the following strategies to earn the lowest mortgage rate possible in the 2026 housing market . See the average mortgage rate in your state. Which lenders offer the lowest mortgage rates? Analysis by Yahoo Finance of nearly 5,000 mortgage lenders reporting 20254 loan information under the Home Mortgage Disclosure Act reveals the surprising truth: the lenders offering the absolute lowest mortgage rates . In 20254, the largest national banks, credit unions, and homebuilders that finance their own construction offered the most favorable home loan rates to the widest variety of borrowers. Since mortgage rates are constantly changing, and each lender's rate varies, securing the lowest mortgage rate requires some research. The most important factors are credit score, debt-to-income ratio, and the down payment. With that information, it's time to contact lenders. With two or three lenders vying for the business, apply for preapproval with each and get a more exact mortgage rate estimate. Read about the 6 tips for choosing the right mortgage lender. However, if buying new construction from a lender offering a buydown isn't an option, here are eight strategies to get the lowest mortgage rates all while using a reputable, well-known mortgage lender . How to get the lowest mortgage interest rate 1. Improve your credit score You may already know that mortgage rates vary by credit score . Whenever you boost your credit score from a lower to a higher tier, you save money. For example, the entry-level FICO Score of 620 might earn you an annual percentage rate, or APR, of 7.28% (based on mortgage rates as of early February, with the purchase of one discount point). Raise your score to the next credit band of 640 to 659, and your interest rate could improve to 7.10%. Bigger rate discounts are offered as you climb the credit score ladder. Here are the interest rate breaks as shown by MyFico.com's Loan Savings Calculator : Mortgage APR by FICO score FICO Score APR 760+ 6.86% 700+ 7.06% 680+ 7.18% 660+ 7.22% 640+ 7.32% 620+ 7.5% Find out what credit score you need to buy a house. 2. Lower your debt-to-income ratio The amount of recurring monthly debt you carry when applying for a mortgage is another significant factor in the interest rate you'll earn. The more debt, the higher your mortgage rate. To get the lowest mortgage...
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