Mortgage interest rates have been dropping for the past three months -- BUT -- they are still much higher now than where they have been for most of the past 10+years.

As a result, we are seeing lower levels of home buying activity, which means fewer mortgages -- and there are definitely far fewer refinances happening right now.

All of this means that lenders will very likely want to compete for your business.  If you are buying a home, have good credit and maybe even a downpayment -- there will likely be many lenders who would love to finance your home purchase for you.

Some general recommendations are...

[1]  Start by talking to one lender to get a pre-approval letter prior to making an offer.

[2]  Once you are under contract to buy a home, knowing the specific property and specific price, go back to that first lender as well as several others to compare rates and terms.

[3]  Try to get each lender to simplify things down as much as possible related to closing costs and monthly payments so you can compare apples to apples. 

[4]  Don't hesitate to take one lender's quote to the other to ask them if they can match or beat it.

[5]  If two lenders are pretty close in the terms they can offer you, give some preference to a local lender (who you can meet with in person if things go awry) and to a lender that is prompt, professional and detail oriented in their communication.

Happy mortgage shopping!