Jay Quigley explains why the mortgage rates you see in headlines don't apply to you. Your actual rate depends on your credit score, debt-to-income ratio, down payment, and loan type. Getting a personalized quote from a lender takes minutes and could shift what you think you can afford.
You may have seen the headlines saying mortgage rates have climbed to the highest point since 2025. And if that's left you reluctant to buy a home, here's what you need to remember. It's a common misconception that the rate you see in the headlines is the same one you'd get when you buy, but advertised rates aren't necessarily the same as real rates. That's because every borrower is different. To figure out your real rate, a lender will look at your specific financial situation, including your credit score, Your debt-to-income ratio, the size of your down payment, your loan type and term, and more. There are a lot of factors to consider, so it's not one size fits all. You may find out your rate is better than the one you're seeing in the headlines. The good news is that it doesn't take long and there's no obligation. If you want to know what your real rate would be, reach out to a trusted lender or loan officer today, or reach out to me and I'll connect you with someone. A quick conversation could change how you think about your move.
Waiting for a major market shift in Tampa before selling may not be your best move.
