If you're planning on getting a mortgage to buy a home, keeping an eye on rates is a smart move. Rates can shift daily—sometimes even hourly—and what seems like an insignificant change can ultimately impact your monthly payment and the total interest you’ll pay over time.

Mortgage rates dropped to the lowest level since 2022 last week, but demand from homebuyers declined as well, as they continue to struggle with affordability.

A mortgage rate lock deposit is a fee charged by lenders to secure an interest rate between offer acceptance and closing, providing financial certainty.

The evidence is patchy on whether lower rates have meaningfully spurred more activity, as the Trump administration floats measures it says will make housing more affordable.

The rate on the 30-year fixed mortgage dropped to a multiyear low on Monday. Investors have flocked to safe havens amid fresh fears about the trade war.