What You Can Do When Mortgage Rates Are a Moving Target

Mortgage Rates: What You Can Control in This Wild Market

Have you seen what mortgage rates have been up to lately? One day they drop a little… the next, they spike back up. It’s been a total roller coaster this spring and if you’re thinking about buying a home in New Hampshire right now, it’s a lot to navigate.

Check out the graph below (courtesy of Mortgage News Daily). March was pretty stable, but April? Not so much. 📉📈

This kind of back-and-forth is totally normal when the economy is shifting, but it’s also a great reminder: trying to time the market perfectly just doesn’t work. None of us buyers, lenders, or even the pros at the Fed can predict what rates will do next.

But here’s the good news:
You’re not powerless. You might not be able to control the economy, but you can control a few key things that seriously impact the rate and terms you’ll qualify for when you buy a home.

Let’s break it down 👇

💳 1. Your Credit Score

This one’s a biggie. Your credit score has a huge impact on your mortgage rate. Even a small jump in your score can lower your monthly payment by a lot.

Bankrate puts it well:

“Your credit score is one of the most important factors lenders consider... Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

Not sure where your score stands or how to boost it? A great local lender can help you map it out.

🏡 2. Your Loan Type

FHA, VA, USDA, conventional—each loan type has different requirements and comes with different rates. What works for one buyer might not be the best fit for you.

As the CFPB explains:

“Rates can be significantly different depending on what loan type you choose.”

That’s why shopping around and talking to more than one lender matters. You want someone who’s going to explain your options, not just hand you a one-size-fits-all deal.

⏳ 3. Your Loan Term

Most people go with a 30-year loan by default, but that’s not the only option. Shorter terms like 15 or 20 years can offer better rates and help you pay off your home faster (if it fits your budget).

Freddie Mac says:

“Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”

It’s worth asking your lender to show you the side-by-side comparison so you can make the best decision for you.

✅ Bottom Line

You can’t control mortgage rates but you can control your credit, your loan type, and your loan term. That’s how you take the stress out of a shifting market and make confident decisions.

Thinking about buying in New Hampshire this year? Let’s talk. I’ll walk you through your options and connect you with a local lender who’s actually going to look out for you not just push a loan.

Shoot me a message, and let’s make a game plan you can feel good about.