Rate shopping can save borrowers significantly on mortgage rates, with potential savings of 1.5% equating to around $400 monthly on a $500,000 home.
Mortgage lenders offer various incentives, which can represent a substantial opportunity for buyers to negotiate better terms beyond just interest rates.
Experts predict mortgage rates will decrease, with a 30-year fixed-rate expected to reach 5.9% by 2025, making it a changing landscape for home buyers.
Negotiating a free refinance option can be a smart move for buyers, potentially saving thousands on closing costs and allowing for future adjustments to interest rates.
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