Mortgage rates have been going up this year, though they remain at historic lows. If you’re considering purchasing real estate in Smyrna this year, there are plenty of ways you can make sure that you’re getting the best possible rates. Keep in mind that, of all the factors that go into a home purchase, your Realtor is the most important factor in getting a good deal.


What’s Driving Up Rates?


Mortgage rates are affected by numerous different variables in the broader economy, which can sometimes make the movement of mortgage rates a bit hard to understand. During the first and second quarters of 2018, inflation, federal monetary policy and numerous other factors were driving rates higher than they’ve been in quite a while. Nonetheless, they’re still well below 5 percent.


Don’t Get Cold Feet


Remember that a mortgage is not permanent. Homeowners do have options for renegotiating mortgages, so keep in mind that your mortgage is a living loan that can be altered and changed as your circumstances and the market change over time. Your Realtor can explain how this works to you, and can certainly give recommendations on quality mortgage lenders in the Smyrna area.


Keep that Credit Healthy!


When you see mortgage rates in the news, keep in mind that not everyone will qualify for the best rates. You can have a profound impact on what kind of rates are available to you by being smart with your credit. Limit spending, keep up to date on your bills, and make sure that you don’t take out other forms of lending while you’re looking for real estate in Smyrna. One good tip to keep in mind that can really save your credit is to make sure you don’t apply for any credit cards. When you’re at a discount store and they ask if you want to apply for that store’s credit card, the best answer is always “no” when you’re shopping for property.


Let a Realtor Do the Negotiating


Realtors are expert negotiators, and they can ensure that you get the best possible price on a property. The sales price they negotiate is, by far, the most important factor in how affordable a home purchase will be. When you start looking for real estate in Smyrna, contact a Realtor right away. Not only can they negotiate the best price, they can also make sure you’re informed when new properties come on the market, giving you an edge that far outpaces the influence of the mortgage rates at any given time!