SHOP AROUND FOR THE BEST MORTGAGE:
You should still shop around. Treat your mortgage like any other major purchase – weigh your options and compare rates before you sign onto one. The mortgage, and your ability to pay it off, are just as important as the house you choose to buy.
“Consumers will be able to mitigate some of the increases by putting as much effort into finding their mortgage as they do in finding their dream home,” Smoke says. “You don’t just take the first offer; you don’t just go to the lender that was recommended. Pursue and understand that you can get different rates.”
Copyright 2015 U.S. News & World Report
