For homebuyers, credit scores may matter more than Fed rates right now

Mortgage rates have risen 37 basis points recently, with average 30-year fixed rates around 7.28%. Borrowers' rates vary widely based on credit scores and down payments, affecting buying power by up to $28,400. Higher credit scores (780+) and larger down payments (30%+) secure rates below average, while lower scores and smaller down payments face higher rates. Improving credit scores offers more savings than increasing down payments. Shopping lenders and budgeting a $130 monthly buffer can also help manage rate fluctuations.