I wouldn't base my whole plan around, 'Well, I keep hearing rates are supposed to drop,'" said investor and agent Dana Bull, noting that current rates are in line with the historical average.
People don't really realize that you can negotiate your rate," said Bull. "I know it's uncomfortable in our culture to feel like you're haggling over a rate, but I think it is really important going into a purchase.
It's especially important in today's environment, she added, as purchase rates are lower than refinance rates: "If I were to go and refinance property right now, I would have a higher rate than somebody who wants to go and buy that same property today.
Bull recommends talking to three different lenders, including at least one bank and one mortgage lender. "This will help you find the best terms for your loan."
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