The Top Three Things You Can Do Now to Lower Your Interest Rate

You may be thinking you'll wait. Wait to see if house prices come down. Wait to see if interest rates come down. Waiting to make a move has its own cost, though. Palm Beach County's single-family median price reached $650,000 in August 2026, up 3.17% year over year (MIAMI REALTORS®). At the same time, the number of homes for sale is down by roughly a fifth from a year ago. Prices haven't softened for the people sitting it out. Waiting it out can backfire.

No one controls where rates go next. The rate on your own loan isn't simply the headline number. Three things move the rate you qualify for and the rate you pay, and you control all three. Here's how each one works.

1. Work on Your Credit

Lenders price loans in tiers, and your credit score decides which tier you land in. Two buyers can buy the same house on the same day and get different rates because one has a stronger credit file. On a typical Palm Beach County loan, half a percentage point can add up to tens of thousands of dollars over the life of the loan.

Credit usually responds faster than people expect. Start 60 to 90 days before you plan to write an offer:

• Pull all three reports and read every line. Look for an account that isn't yours or a paid-off balance still showing as open, and dispute anything that's wrong with the credit bureau.
• Pay card balances down before the statement closes. Card issuers typically report the balance on your statement date, not the balance after you pay. Lower reported balances can help your score within a single billing cycle.
• Hold still until closing. Don't open new cards, finance furniture or buy a car. Don't close old accounts either, since their age helps you.
• Ask your lender about a rapid rescore. After you correct an error or pay down a balance, a lender can often request an updated score in days rather than waiting for the next reporting cycle.

2. Explore Your Loan Options

There isn't just one rate. It changes with the loan type, the term and how the loan is structured. Many buyers see a single quote for a single product and assume that's the market. It usually isn't. These are worth comparing side by side:

• Loan type. Conventional, FHA and VA loans price differently and have different credit and down payment requirements. Government-backed loans sometimes carry lower rates because the guarantee reduces the lender's risk.
• Term. A 15- or 20-year loan typically carries a lower rate than a 30-year loan, in exchange for a higher monthly payment.
• Fixed or adjustable. An adjustable-rate loan usually starts lower and can rise later. It can make sense when you have a clear plan to sell or refinance, as long as you understand how high the rate can adjust.
• Points. Paying discount points at closing permanently lowers your rate. Whether that pays off depends on how long you keep the loan.
• Temporary buydowns. A 2-1 buydown lowers the rate by two percentage points in year one and one point in year two, and then the full rate applies. Lenders generally still qualify you at the full rate. As you'll see below, the seller can often pay for it.
• Assumable loans. Many FHA and VA loans can be assumed by a qualified buyer, which means taking over the seller's existing rate. It requires lender approval. You also have to cover the difference between the loan balance and the price, either in cash or with a second loan, and at today's prices that gap is often large. When the numbers work, it's one of the few ways to get a rate from a few years ago.

You don't need to become a mortgage expert. You need a lender who will lay these options out together, using your numbers, before you commit to one.

3. Use the Right REALTOR®

To be straight with you, a REALTOR® doesn't set your interest rate. Lenders do. What the right REALTOR® changes is what the seller is willing to give you. Seller-paid concessions are one of the most effective ways to lower the rate you actually pay.

It starts with what sellers actually worry about. Price matters, but the bigger fear is usually uncertainty. Will the buyer's financing hold? Will the inspection turn into a second negotiation? Will the appraisal sink the deal three weeks in? Will closing slip and wreck the seller's own move?

An experienced agent builds an offer that answers those questions before the seller has to ask them:

• A buyer who arrives fully approved, not just pre-qualified.
• A shorter inspection period.
• An appraisal ordered immediately.
• Contingencies cleared in days rather than weeks.
• A closing date built around the seller's plans.

Sellers will trade for that certainty. They may offer better terms, and often concessions the buyer can put toward a rate buydown. Here's why that can matter more than a lower price:

For the seller, both options cost about the same. For the buyer, the first-year difference is large. Getting that concession usually depends on first giving the seller something they value.

Approaches that tend to backfire include:

• Asking for concessions without offering anything in return, which tends to get a flat no.
• Leading with a higher price when the seller's real worry was whether the deal would close, which can win the house but on worse terms than you needed.
• Writing an offer on a pre-qualification letter that doesn't survive underwriting, which can cost you the house entirely.

A Kull Group Pattern Observation: In multiple-offer situations, the highest number doesn't always win. We represented a buyer who won against competing offers because the seller valued a five-day inspection period and a seven-day mortgage contingency more than a few extra dollars from someone else. Sellers buy certainty.

The other half of this is the lender. When you work with us, we connect you with lenders we've worked alongside for years. Their programs are designed to strengthen a buyer's offer. Put those programs together with our negotiating experience, and you're in the strongest position a buyer can have in this market. You're always free to choose any lender you like.

What we do for buyers in this market

For buyers in Wellington and across Palm Beach County, our work includes:

• Structuring offers around seller certainty.
• Negotiating seller concessions for rate buydowns and closing costs.
• Coordinating fast-turnaround inspections and appraisals with your lender.
• Connecting you with experienced local lenders.
• Comparing new homes and resale homes on what you'll actually pay each month, not just on price.

So What Does This Mean to You?

The same rate affects buyers very differently depending on where they're starting from.

What does this mean for the first-time buyer?

If you're buying your first home right now, you're carrying the full weight of the rate, and there's no softening that. Homeowners who are moving up have equity to offset it. You don't yet. That isn't a failure on your part. It's just where you are in the cycle. So let's be honest about the number instead of talking around it.

What people don't tell you is that the rate isn't the only lever on the table. Your credit file, the loan you choose, a seller-paid buydown and the way your offer is structured all affect your monthly payment, sometimes significantly. With fewer homes for sale in Palm Beach County than a year ago, patience alone won't win you a house. A well-built offer will. That part is within our control, and it's where we spend our time. Search homes by city, or call us at 561-440-0777.

What does this mean for the move-up buyer?

Most homeowners in Palm Beach County are sitting on more than they realize. Single-family prices here have risen 189% since 2010, from a $225,000 median to $650,000 (MIAMI REALTORS®). That isn't just a number on a chart. It's money in the bank, sitting in your house. It matters now because the biggest thing stopping people from moving is a rate they think they can't afford to give up.

Here's the piece most people miss. You aren't comparing your old rate to today's rate. You're comparing your old payment to your new payment, and your equity is what sits between them. The rate only applies to what you borrow, not to what the house costs. Equity is the lever that makes the rate survivable. Put enough of it down, use the three levers above, and the number that scared you off may no longer be the deciding factor. For many of our clients, the gap turns out to be much smaller than they assumed, and almost none of them had run the numbers. Find out what your home is worth today.

What does this mean for the downsizing buyer?

If you're moving to something smaller, today's rates may affect you less than almost anyone. The rate only applies to what you borrow. Many people who downsize can bring enough equity to borrow very little, or nothing at all. A high rate on a small loan is a very different thing from a high rate on a large one.

There's a second side to your move, too. You're almost certainly selling, and your buyer is facing the same rates as everyone else. The concession math above applies to you as a seller as well. Offering to fund a buydown can draw more buyers than a price cut of the same size, without lowering your sale price. In this market, understanding what your buyer needs is part of getting the price you want.

The Bottom Line

You can't control where rates go. You can control your credit, your loan and the terms you negotiate, and together those decide the rate you actually pay. If you're thinking about buying, selling or both in the next year, start by running the real numbers for your own situation. Bring a rough budget, your timeline and any questions about the home you're in now. We'll go through which levers apply to you and introduce you to a lender who can put real numbers on them. Call or text Chris or Sue Kull at 561-440-0777, or schedule a conversation with The Kull Group.

Frequently Asked Questions

Can a seller pay for my mortgage rate buydown in Florida?

Often, yes. Seller concessions can usually go toward a temporary buydown, such as a 2-1, or a permanent one, within the limits your loan program allows. Those limits vary by loan type and down payment, so confirm them with your lender before you write the offer.

Should I wait for rates to come down before I buy?

That's a personal decision, and no one can reliably predict rates. It helps to weigh both sides. Palm Beach County prices rose this year while the number of homes for sale fell. If rates drop, more buyers may return at the same time. If you buy now and rates fall later, refinancing may be an option, though it has its own costs. A lender can run both scenarios with your numbers.

Does a REALTOR® affect my interest rate?

Not directly, because lenders set rates. An experienced REALTOR® affects what you pay in two ways: by connecting you with lenders whose programs strengthen your offer, and by negotiating seller concessions you can put toward a buydown.

Who should I call in Wellington about lowering my mortgage rate before I buy?

Call Chris or Sue Kull at The Kull Group powered by Keller Williams Wellington, at 561-440-0777. We've spent more than 31 years helping buyers and sellers. We'll walk through your credit, your loan options and your offer strategy, then connect you with a lender who can quote real numbers.

Sources: Freddie Mac Primary Mortgage Market Survey; MIAMI REALTORS® Palm Beach County single-family data (August 2026); daily 30-year fixed rate averages as of October 1, 2026. This article is general information, not legal, tax or lending advice, and not a commitment to lend. Rates, programs and concession limits change and depend on the lender and the borrower's qualifications. Talk with a licensed loan officer about your situation. The Kull Group powered by Keller Williams Wellington. Each office is independently owned and operated.

By Chris Kull, Florida REALTOR®, The Kull Group powered by Keller Williams Wellington. More than 31 years in real estate and over 1,000 homes sold across three states. Serving Wellington, Palm Beach County and the corridor north to Port St. Lucie. Call or text 561-440-0777. Updated October 2026.

Chris Kull here. Mortgage rates are moving the wrong way. On October 1, 2026, the average 30-year fixed rate was running between about 7.4% and 7.6% according to daily rate trackers, close to a three-year high. A year earlier, Freddie Mac's survey put it near 6.3% (Freddie Mac PMMS). If you've been watching that number climb and wondering whether to put your plans on hold, you're not alone.