Mortgage rates are affected by a variety of factors, including the economy, inflation, the bond market, and the lender’s business strategy. Your personal financial situation, credit score, and loan amount will also impact the interest rate you receive.

To improve your chances of getting a low mortgage rate, focus on improving your credit score, shopping around for lenders, and making a larger down payment. It’s also important to compare different types of mortgages, such as fixed-rate and adjustable-rate, to see which one is right for you.

Both options have their pros and cons. A mortgage broker can help you find the best rate and terms from multiple lenders, but they may charge a fee for their services. Going directly to a lender can be more convenient and may offer special deals, but you may miss out on other options. Ultimately, it’s up to you to weigh the benefits and make the best decision for your situation.

Paying points upfront can lower your mortgage rate, but it’s important to consider whether the cost is worth the savings in the long run. Generally, it makes sense to pay points if you plan to stay in your home for a long time, as the savings will compound over time. If you plan to sell or refinance in the near future, it may not be worth the upfront cost.

When choosing a mortgage lender, look for a reputable company with a strong track record of customer service. Make sure they offer competitive rates and terms, and that they are transparent about their fees and charges. It’s also a good idea to read online reviews and ask for recommendations from friends and family.