Rates rose—but there may be more ways to save than you think.

Freddie Mac reported that the average 30-year fixed mortgage rate rose from 6.76% to 6.95%. On a $380,000 loan, that difference is about $48 per month in principal and interest.

That matters, but the national average does not determine the rate or payment available to a specific buyer. Credit, loan type, lender terms and the structure of the purchase all affect the final numbers.

A higher rate does not leave you with only one option

Lender incentives, seller credits, rate buydowns and reducing the amount financed can open different avenues for savings. Which approach makes sense depends on the home, the loan and your plans.

I do not recommend judging a mortgage by one promotional number. The rate, fees, cash required and total loan terms need to be considered together. But it is worth knowing which opportunities exist before assuming a home will not fit the budget.

A Zillow Home Loans offer worth asking about

Zillow Home Loans is advertising $3,000 in credits and a free appraisal for eligible buyers. That may reduce some of the upfront cost of purchasing a home, subject to the lender’s current qualifications and terms.

Talk to me for an introduction to my favorite Zillow Home Loans representative, Dustin England. We can look at the situation around a specific home and identify the right questions to ask without relying on a one-size-fits-all strategy.

See what just came up locally

These live Zillow searches are sorted toward newer listings. They are useful starting points, not endorsements of any particular property.

One local update: northeast Lacey is getting a new park

Greg Cuoio Park officially opens September 24 at 2711 Carpenter Road NE. If you are considering Hawks Prairie or northeast Lacey, visiting the park and driving the surrounding roads can tell you more about the area than looking at a map.

See the park-opening details ↗