Is a larger down payment worth it in today's mortgage rate environment? What experts say

MoneyWatch: Managing Your Money Is a larger down payment worth it in today's mortgage rate environment? What experts say We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aly J Yale Aly J Yale Aly J. Yale is a contributing writer for the Managing Your Money section for CBSNews.com, covering various personal finance topics, including investing, homebuying, loans and more. Read Full Bio Aly J Yale May 6, 2026 / 9:10 AM EDT / CBS News Add CBS News on Google Making a larger down payment could be a smart strategy to employ, but it also has some downsides to consider. Kmatta/Getty Images While it's relatively common for mortgage rates to change, at least marginally, on a regular basis, overall, mortgage rates have been hovering in the mid- to low-6% range for several months now. And, while borrowers may be hoping for the rate landscape to ease, increasing affordability for homebuyers, most experts don't expect them to fall below 5% anytime soon. That doesn't mean getting a lower mortgage rate is impossible, though. In some cases, making a larger down payment on a home can qualify you for better loan terms than you'd otherwise get — and that can ultimately mean a lower interest rate, too. But there are tradeoffs, of course, and making a larger down payment generally isn't the right move for everyone. So how do you know when it could be worth doing so, especially in today's landscape? Here's what experts say about making a big down payment in today's market — and when you might want to consider it yourself. Find out how affordable the right mortgage loan could be today.Is a larger down payment worth it in today's mortgage rate environment? When you make a larger down payment on your home, that down payment reduces how much you have to borrow, and su...