3 Strategies to Get a Great 15-Year Mortgage Rate Right Now

Mortgage rates have decreased slightly but remain high compared to recent history. The average 15-year mortgage rate is 6.63%, down from a peak of 7.14% in late 2023. Borrowers with better credit scores can secure significantly lower rates, with a difference of $179 monthly on a $400,000 mortgage. Strategies to improve credit and qualify for better rates include maintaining low credit card balances, timely bill payments, and making larger down payments. Shopping around for personalized rate offers is crucial for finding the best mortgage rate.