Mortgage rates hover just above 6%, but lower rates are possible with strategies like improving credit scores, reducing debt-to-income ratios to 25% or less, and making larger down payments. Buying discount points can lower rates but requires upfront costs. Interest rate buydowns and adjustable-rate mortgages offer short-term savings. Shorter-term loans have lower rates but higher payments. Assumable loans are rare but can offer low rates. Refinancing depends on future rate drops.