Can’t Predict Rates? Here’s What You Can Control When Buying

Mortgage Rates Are a Roller Coaster—Here’s How You Can Still Win

Have you noticed how mortgage rates are all over the place lately? One day they're down, the next day they’re up again—it’s enough to make your head spin, especially if you're trying to decide whether now’s the right time to buy a home.

Take a look at recent data from Mortgage News Daily, and you'll see April has been a bit of a wild ride. March gave us some stability, but April? Not so much.

And honestly, that kind of up-and-down swing is normal during economic shifts.

That’s why trying to time the market perfectly isn’t your best bet. You can't control what rates are doing—but you’re not completely powerless either. There are actually a few things you can do to put yourself in the best position, no matter what’s happening out there.

Here’s where you do have control:

1. Your Credit Score Your credit score plays a major role in what rate you’ll qualify for. Even a small increase can lower your monthly payment more than you might think. As Bankrate puts it, the higher your score, the better the loan terms you’ll qualify for. Don’t know your score? Reach out to a trusted loan officer—most are happy to help you understand it and improve it if needed.

2. Your Loan Type There are a few different kinds of loans—conventional, FHA, USDA, and VA loans—and each one has its own benefits and requirements. Some offer better rates or lower down payments depending on your situation. Not sure which is right for you? Chat with a few lenders and see which program fits your goals best.

3. Your Loan Term Just like the type of loan, the length of your loan matters too. Whether you go with a 15-, 20-, or 30-year term, it will impact your monthly payment and how much you’ll pay in interest over time. Make sure you explore what each term means for your budget and your future.

Bottom Line You don’t need to stress about where mortgage rates are heading tomorrow. Instead, focus on the pieces you can control—like your credit, your loan choice, and your term. That’s how you position yourself to win, no matter what the market does.

If you’re thinking about buying a home soon, let’s team up. I can connect you with trustworthy local lenders here in San Luis Obispo County and walk you through the process step-by-step. You've got this—and we’ve got your back.