4 Smart Ways to Lower Your Mortgage Rate—Without Waiting on the Fed

Mortgage rates are still hovering above historic norms, and while the Federal Reserve has hinted at potential cuts later this year, buyers shouldn’t feel stuck in the meantime.

At The Charles King Group, we’re always helping our clients find strategic ways to buy smarter—even in challenging rate environments. Whether you're shopping in Boston, Hingham, the South Shore, or beyond, there are real levers you can pull right now to secure a better mortgage rate.

Here are 4 proven strategies that are working in today’s market:

1. Shop Around for Lenders
Don’t stop after one quote. Realtor.com reports that buyers who compared offers saved an average of 0.86% on their rate—potentially thousands of dollars over the life of a loan. We’ve seen clients in Hingham and Cohasset unlock better terms simply by reaching out to an extra lender or two.

2. Improve Your Credit Score
Every point matters. Moving your credit score into the “very good” range can lower your rate by approximately 0.22%, based on current data from Fannie Mae and the Consumer Financial Protection Bureau.

3. Increase Your Down Payment
Even bumping your down payment from 10% to 15% can reduce your rate and eliminate PMI (private mortgage insurance). This is a common tactic among our savvy buyers in the South Shore luxury market.

4. Consider a Temporary Buydown
Many sellers—or even builders—are offering 2-1 buydowns, which lower your interest rate by 2% in the first year and 1% in the second. This can create helpful breathing room in the early years of your loan.

Local Insight: What's Happening on the South Shore?

Buyers across Plymouth and Norfolk Counties are becoming more strategic. While prices in towns like Hingham, Norwell, and Duxbury remain elevated, we’re seeing lenders compete harder for business—especially in early summer when transaction volume typically rises.

Want help comparing lenders or getting your financials in order? We work with an excellent network of local mortgage professionals and financial advisors who can help you evaluate your best options—before the Fed makes its next move.