In the pursuit of homeownership, a fraction of a percentage point on your mortgage rate can translate to tens of thousands of dollars over the life of your loan. The difference between a good rate and the best mortgage rate isn’t just luck; it’s the result of deliberate preparation, strategic timing, and informed negotiation. While market forces like the Federal Reserve’s policies and economic indicators set the broad stage, your personal financial profile and approach to the lending process are the keys you control. This guide distills expert tips and actionable strategies to position you for the most favorable terms, whether you’re a first-time buyer or looking to refinance.