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Today’s mortgage rates are lower than they were just a few weeks ago — but still higher than many borrowers had hoped for heading into this spring homebuying season. After bottoming out at just under 6% in February following a late-2025 Federal Reserve rate cut, the average rate on a 30-year mortgage climbed sharply through March and into early April, briefly approaching 6.5% as tariff-driven market turmoil rattled bond markets and pushed borrowing costs higher.
Since then, mortgage rates have pulled back as trade tensions have shown early signs of easing. Today, the average rate on a 30-year mortgage sits at 6.13%, according to Freddie Mac — still above February’s lows, but meaningfully better than where things stood at the start of the month. If you’re someone hoping to buy a home this year, the recent volatility can feel disorienting.
Fortunately, experts say, today’s rates shouldn’t be a dealbreaker for some types of borrowers. But who exactly should consider buying a home this spring?
Find out how affordable the right mortgage loan could be today.
These are the types of homebuyers who should buy this spring, according to experts
Here are the types of borrowers experts say could benefit from buying a home this spring:
Buyers who are willing to put in the work
Average mortgage rates might not be at their lowest right now, but they’re hardly set in stone — and that means borrowers can do a lot to snag lower rates than what they’re seeing in headlines. It just takes some effort.
One place to start is by improving your credit. Not only can a better credit score help you get a lower mortgage rate, but it can also reduce how much mortgage insurance you need, saving you even more both monthly and in the long run.
“A higher credit score can noticeably lower your rate,” says Michael Borodinsky, branch manager for loanDepot. “In many cases, moving from the mid‑600s to the mid‑700s can save you up to 0.25% on your interest rate.”
Improving your credit is particularly helpful if you’re using a conventional loan, says Mason Whitehead, home loan specialist at Churchill Mortgage.
“I tell my clients to think of conventional loans like a big-kid seesaw,” Whitehead says. “The higher the credit scores, the lower the rate, and vice versa.”
In addition to improving your credit, pros say shopping around and comparing lenders can make a big difference in your rate, too. Not only do lenders vary widely in what loans and products they offer, but their rates, fees, and promos vary, too — and that can mean savings all around.
In fact, getting at least four rate quotes can save you over $1,200 annually, according to a recent Freddie Mac study.
“Shopping for lenders aggressively can make a meaningful difference, as rates for the same borrower can vary by as much as 0.25%,” Borodinsky says. “Compare banks, credit unions, mortgage brokers, and mortgage bankers, and don’t be afraid to negotiate, since some lenders may match or beat a better offer.”
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Buyers who will be in their home for the long haul
If you’re looking to buy your forever home — or at least a home you’ll be in for a while — then buying at today’s rates can also make more sense. For one, you’ll have more time to ride out rate fluctuations and, potentially, refinance into better terms.
But more than that, a longer time horizon also gives you more time to build equity, whittle down your loan balance, and make the costs of your loan worth it.
“You need enough time to recoup closing costs through equity gains and payment versus rent savings,” says Nicole Rueth, senior vice president at CrossCountry Mortgage. “In markets seeing flatter appreciation, that timeline can stretch further than buyers expect.”
For shorter-term buyers, recouping those costs is more difficult, especially with amortized mortgage loans. With these, the majority of your payments in the first few years go toward interest. That means your principal balance barely moves and selling the home — at a profit, at least — becomes much more challenging.
“Short‑term buyers, typically those planning to stay five to seven years or less, face more risk,” Borodinsky says. “If you are in it for the long haul, buying becomes more of a no-brainer.”
Buyers who are willing to consider alternative loan options
The rate on 30-year fixed-rate mortgages might not look ideal, but that’s not the only loan program out there. If you’re willing to look more outside the box, experts say there are plenty of options to secure a lower rate right now.
First, you can consider an adjustable-rate mortgage. These come with an initial rate that’s set for three, five, or seven years, usually, and then the rate can adjust based on the index rate it’s tied to. ARM rates typically start lower than fixed rates, so they can save you quite a bit of money on interest in the beginning.
They’re also a particularly good option if you think you won’t stay in the home more than a few years.
“If a buyer plans on retaining the property for a short period of time, they should consider ARM products,” says Brian Shahwan, vice president and mortgage banker at William Raveis Mortgage. “In many cases, ARM rates are much more favorable than fixed rates. They can allow a borrower to keep their monthly costs as low as possible without the risk of entering the unlocked rate period.”
Buying new construction is another alternative to explore, Borodinsky says. Homebuilders are facing an increasingly difficult market, so many are willing to offer big discounts and incentives to those who buy from them — all you have to do is ask.
“It’s definitely worth taking a look at new construction, because many homebuilders offer steep rate buydowns and discounts, which can go as high as 2% or 3% for the first few years of the loan term,” Borodinsky says. “It’s a great avenue that combines the benefits of owning a brand‑new home with interest‑rate incentives that can help make the purchase more affordable — and presumably with less upfront maintenance costs.”
Buyers who can wheel and deal
A little negotiating can go a long way when it comes to mortgage rates, so if you’re willing to wheel and deal, you have options.
To start, you can negotiate with your lender. Get quotes from several companies, and use those quotes to negotiate better terms from their competitors.
“What most buyers don’t realize is that the rate isn’t the only number to negotiate,” Rueth says. “Lender fees, points, and loan structure are all on the table.”
You can also ask each lender you consider about buydowns, which let you purchase a lower interest rate permanently or for the first few years of the loan. In some cases, lenders may cover the costs of buydown for you (either partially or in full), if the market is particularly slow.
Beyond negotiating with your lender, you can also bargain with the seller you buy your house from. Sellers can offer what are called concessions, which can be used to cover closing costs, fees, and even buying down your interest rate.
“In this market, many sellers are offering substantial closing cost credits, and the smartest thing a buyer can do with that money is buy down their interest rate permanently,” Rueth says. “We’re seeing buyers reduce their rate by a quarter to a full percentage point or more, which meaningfully lowers their monthly payment and changes the affordability picture.”
Buyers who can make the numbers work today
Rates may be higher than many borrowers would like, but if you’ve found a home you love and the numbers work for your budget and financial goals, there’s no reason not to jump in, pros say.
To be sure a home works for you financially, Whitehead recommends what he calls “practice payments.” Take the monthly payment that would come with your dream house, and start living like you’re paying that amount now. You’ll quickly learn if the payment is sustainable.
“See how life goes,” Whitehead says. “Are you able to still do all the things you want and need to do without struggling? If so, great. If not, better to know now before you are stuck with that payment every month for 15 to 30 years.”
Whatever you do, experts say it’s important to run the numbers and talk through your financing options with a professional. They can give you the most updated rates and price scenarios for your specific situation, and guide you on making the right move for your goals.
“My motto is mortgages are not a one-size-fits-all product,” Shahwan says. “What may be affordable for you may not be the case for your neighbor. Analyze your specific situation with a loan officer.”
The bottom line
Mortgage rates have come down from their April highs, but they’re still not the bargain many buyers have been waiting for. Whether that means you should buy now or keep waiting depends far less on the rate environment than it does on your own financial situation, timeline, and goals. If you’ve found the right home, can comfortably manage the monthly payment and plan to stay put long enough to build equity, today’s rates don’t have to stand in your way. And if you’re willing to put in the work, you may find that the rate you actually get looks quite a bit better than the averages suggest.