How can I lower my mortgage rate?

10 Ways to Lower Your Mortgage Rate Maintain a good credit score. Have a long and consistent work history. Shop around for the best rate. Ask your bank/credit union for a better rate. Put more money down. Shorten your loan. Consider the adjustable-rate vs. fixed-rate loan trade-off. Pay for points. Click to see full answer. Subsequently, one may also ask, can I lower my mortgage interest rate without refinancing?If you do not want to refinance your mortgage, a loan modification might reduce your interest rate. Alternatively, you can tell your lender you are considering refinancing, preferably with another lender, and ask if they could lower your interest rate. Your lender might reduce your interest rate to keep your loan.Also Know, will my bank lower my mortgage rate? In effect, extra payments, such as biweekly ones or simply an additional payment each year, lower the amount of interest you pay. While your mortgage rate won’t change, nor your monthly payment, the amount of interest paid will, which is basically the same deal as a refinance without all the paperwork and qualifying. Accordingly, how can I lower my monthly mortgage payment without refinancing? The smaller your balance, the less interest you’ll pay to the bank. Make 1 extra payment per year. “Round up” your mortgage payment each month. Enter a bi-weekly mortgage payment plan. Contact your lender to cancel your mortgage insurance. Make a request for loan modification. Make a request to lower your property taxes. What is a good mortgage interest rate 2019? Quicken Loans Mortgage Rates Product Interest Rate APR 30-Year Fixed Rate 3.625% 3.886% 15-Year Fixed Rate 3.125% 3.604% 5/1 ARM 3.500% 4.013%