Mortgage interest rates are declining, with expectations for further cuts as the Federal Reserve prepares to lower its federal funds rate. Prospective homebuyers should take strategic steps now to prepare for these changes. Key actions include shopping for lenders to find the best rates, boosting credit scores, exploring alternative mortgage options, accurately calculating budgets, and getting pre-qualified for loans. These preparations can enhance buyers' chances of success in a competitive market as rates continue to drop.
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