Homebuyers Can Beat the Headline Mortgage Rate by Shopping, Saving and Strengthening Credit

Mortgage rates rose above 7% for the first time since January 2025, reaching a 20-month high and adding affordability pressure to the U.S. housing market. Realtor.com found that the middle 80% of borrowers received mortgage rates spanning 93bps, a dispersion equivalent to roughly $28,400 in homebuying power. Higher rates and wide borrower-level pricing differences could further constrain housing demand and transaction activity.